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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?
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