More Examples of Transactions with Disqualified Persons
(Remember a transaction with a disqualified person is a “Prohibited Transaction”)
- Your IRA buys a home that you or any disqualified person will live in now. (Including vacation homes / time shares, etc.)
- Your IRA makes a loan to a company in which you control more than 50% of the ownership.
- Your IRS buys from, sells to, exchanges, or leases any property with a disqualified person.
- Any extension of credit, loaned money, co-signing between the IRA and a disqualified person.
- Any loan or transfer of goods between the IRA and a disqualified person.
- Unreasonable payment to a disqualified person made by the IRA for services to the IRA.
If you have a specific situation and are seeking guidance regarding this or any other matter, please contact The IRA Club and we will put you into contact with qualified legal counsel.
