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Subject:  Re: Real Estate in IRA/Roth IRA Date:  11/11/2002  10:56 AM
Author:  jrr7 Number:  35203 of 88536

The article states you can buy a home with your IRA with the intention of moving in but this requires approval of the Labor Department and would cost about $3500 in fees.

My reading of the tax code suggests that you cannot have a house in your IRA that you (or your family) live in or plan to live in. But I'm not a tax lawyer.

If the property purchased is a rental property, its not clear if you could rent one of the units from your IRA

This sounds like it would be a conflict-of-interest situation.

Can your IRA take out a mortgage? It sounds like it can.

The tax code is very clear that no part of the IRA assets may be pledged as security for a loan.
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