Peter Opened His IRA in 2003and Withdrew Money to Purchase

question 26

True/False

Peter opened his IRA in 2003and withdrew money to purchase a house in 2012.Since the distribution qualified as a "qualified first-time-homebuyer expenses," it is not subject to the 10% early withdrawal penalty.

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Definitions:

Neuron

A neuron is a nerve cell that is the basic building block of the nervous system, responsible for transmitting information through electrical and chemical signals.

Electrical Charge

A physical property of matter that causes it to experience a force when placed in an electromagnetic field; comes in positive and negative forms.

Dendrites

Branch-like extensions of neurons that receive signals from other neurons.

Axon

A long, slender projection of a nerve cell that typically conducts electrical impulses away from the neuron's cell body.