HR 1503 · 100th Congress · Taxation
A bill to amend the Internal Revenue Code of 1986 to permit first-time homebuyers to use amounts in their individual retirement accounts or annuities to purchase a home without including such amounts in gross income or incurring the penalty for early distributions.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1987-03-10)
Plain Language Summary
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Amends the Internal Revenue Code to allow the use of distributions from individual retirement accounts and individual retirement annuities for the purchase of a principal home by a first-time homebuyer.…
Summarized by Claude AI · Non-partisan · For informational purposes only