I've been trying to find the answer to this question, to determine if I should use my IRA for a Home Purchase.
The IRS' definition of a 'first-time homebuyer' is someone who has 'no present interest in a main home' for 2 years (paraphrasing).
My interpretation of 'main home' is 'primary residence'. Is this correct?
My wife and I bought a house 5 years ago, then subsequently had to move due to work 2.5 years ago. We have since maintained that house as a rental/investment property and have been renting in our current location. Since we transferred the house from a primary residence to an investment property, does this open us to the 'first-time homebuyer' exception for early distribution?