I am interested in purchasing some land with IRA funds. According to the informatiion I have found, setting up the IRA account and transferring funds is fairly simple. I would like to know if anyone has experience with companies who provie this service, comparisons of fees, satisfaction with service, etc.I also have questions about how the IRA could be dispersed. For example, I am interested in a tract of about 45 acres. If the IRA bought it in one parcel, could it then be split into five to nine parcels? I think that could be done, but then could the land be dispersed over the years in parcels?Obviously, I am wondering if I may avoid paying taxes on all the land in one year. I would like to keep the land rather than sell it and get the money. Does anyone know how the IRS views this?
Welcome Gilesland. Glad you could join us.The subject of real estate in an IRA comes up from time to time. People with experience are hard to find. But if you track back on the links below, ask the posters for an update on their experiences, I think you will get the best available information. There are a few custodians out there who specialize in real estate. You will need one of those to comply with IRS requirements. If you track the links back far enough they take you to postings over the last few years on the Tax Board and on the Real Estate board.Good luck.Here is my list of real estate/IRA previous postings--Message 35197 on Retirement Investing Boardhttp://boards.fool.com/Message.asp?mid=18126356Message 5291 on Real Estate Boardhttp://boards.fool.com/Message.asp?mid=21432308Message 38991 RI, http://boards.fool.com/Message.asp?mid=2028498638129 RI, http://boards.fool.com/Message.asp?mid=1996893061025 Tax Strategies, http://boards.fool.com/Message.asp?mid=175966195325 REhttp://boards.fool.com/Message.asp?mid=21475852
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