Qualified Acquisition Cost

What Does Qualified Acquisition Cost Mean?
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 explains Qualified Acquisition Cost
These include the following items:

- Costs of buying, building, or rebuilding a home.

- Any usual or reasonable settlement, financing, or other closing costs.

Related Terms

First-Time Homebuyer
Home Buyers' Plan - HBP
Individual Retirement Account - IRA
More Related Terms

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