Self directed IRA's
Largo, FL
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Posted 8 months ago in Financial Markets And Services
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If I purchase an investment property with my IRA can I move into it for 2-5 years and rent out my other property ---using the rent as living expenses instead of reinvesting them back into the IRA. Then eventually selling the original IRA purchase and putting the sale money into the IRA?
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Answers (1)David Michael Goldman
This attorney is licensed in Florida.
Posted 8 months ago.
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No, This would be a prohibited transaction. You cannot receive a benefit from your IRA nor can your IRA receive a benefit from you..
David Goldman Apple Law Firm PLLC 331 East Monroe Street Jacksonville, FL 32202 Tel (904) 685-1200 Fax (904) 212-0678 http://www.JacksonvilleLawyer.pro/ http://www.GunTrustLawyer.com/ http://www.FloridaEstatePlanningLawyerBlog.com/
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