Qualified Acquisition Cost
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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. |
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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. |
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