Qualified Acquisition Cost
These are items, in the context of IRA withdrawls, that constitute penalty free withdrawls for an IRA owner who uses the assets to purchase a first home.
Investopedia Commentary
These include the following items:
- Costs of buying, building, or rebuilding a home.
- Any usual or reasonable settlement, financing, or other closing costs.
Related Links
Introductory Tour through Retirement Plans
See also: First-Time Homebuyer