Eight years ago, Thomas began investing in his Roth IRA. He is now purchasing his first home. He may withdraw some money from his Roth IRA tax-free and penalty-free for this purchase.

Question

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According to IRS rules, Thomas may withdraw up to $10,000 from his Roth IRA tax-free and penalty-free for the purchase of his first home, as long as he has had the account for at least five years.

Eight Years Ago, Thomas Began Investing in His Roth IRA