DEFINITION of '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 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.
A business agreement that is made by upper management, and is ...
A program in Canada that allows RRSP holders to withdraw up to ...
An individual who is purchasing a principal residence for the ...
An investing tool used by individuals to earn and earmark funds ...
Definition of Gold IRA
An IRS-allowed movement of assets into or out of an individual ...