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as discussed here, some custodians will ket you invest in real property, like RE.

according to IRS regs it has to be " no delf dealing", anyone take a shot, would attaining a qualified apprasial
on a propery one owns and then selling it to the custodian be kosher?

TIA

Susan400
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according to IRS regs it has to be " no delf dealing", anyone take a shot, would attaining a qualified apprasial
on a propery one owns and then selling it to the custodian be kosher?


Since you are one of the parties involved in the sale, it sounds a lot like self-dealing to me.

AJ
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according to IRS regs it has to be " no delf dealing", anyone take a shot, would attaining a qualified apprasial
on a propery one owns and then selling it to the custodian be kosher?


I'm not Jewish, so I can't speak to keeping kosher.

But for tax purposes you cannot sell anything to, or buy anything from, your IRA.

--Peter
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RE IRA thx shucks.

Hmmm how to accomplish this.
sell to a strawman for 12 mo then to teh IRA?

susan400
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sell to a strawman for 12 mo then to teh IRA?

Somehow I don't see a tax plan involving the word "strawman" coming to a good end. People who think they've outwitted the law tend to be blabbermouths about it, and sooner or later those party poopers at the IRS will get wind of it.

I'm curious. What is it about holding this particular piece of property in an IRA that so appeals to you?

Phil
Rule Your Retirement Home Fool
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RE IRA thx shucks.

Hmmm how to accomplish this.
sell to a strawman for 12 mo then to teh IRA?


"Strawman" isn't going to pass the self-dealing sniff test.

How about - Buy a different property with the IRA and sell or keep the non-IRA property as you see fit.

AJ
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How about - Buy a different property with the IRA and sell or keep the non-IRA property as you see fit.

AJ

==========================
I was reminded in a related topic in another thread:
You pretty well have to do the acquisition with all equity money to avoid having the property generate UBTI to the IRA. (Income from debt-financed property is UBTI.)

Which isn't the end of the world, but it destroys any advantage you had in holding the property in an IRA.

Bill
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AJ - thx for your sober advice, expected, just was dreaming for a bit.
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