Real Estate purchase

[Christine Dull]

From what we have read, we’ve understood that you can you assume ownership as a IRA distribution? Is that possible?

Christine Dull

Contact

[George Blower]

It is acceptable to take an in-kind distribution of real estate from your IRA provided that the real estate is owned free and clear by your IRA (i.e. no debt). Please note that the real estate would have to transfer from the LLC to the IRA and then you would need to work with the IRA custodian to take the distribution (which would be subject to taxes and possibly penalties based on the fair market value of the real estate at the time of the distribution).

George Blower

My Solo 401k Financial

Contact

8004897571 mysolo401k.net