Rental Property Investor · Leesburg, VA · Member since 2016 · 36 posts · 2 votes
If my mom has a self directed IRA rental property LLC can I purchase it with another rental property LLC I have another property in? At a certain point the IRA LLC needs to be liquidated, but I want to buy the rental because its a good rental. I have another rental in a separate LLC and wanted to know if we could basically by it from ourselves?
you are absolutely can not do that, you are considered to be a disqualified person to your mom's IRA and the IRS rules prohibit any transaction between the IRA and such person.
Dmitriy beat me to the punch. He is absolutely correct. As a disqualified party to your Mother's IRA, you or an entity you own may not transact with her IRA in any direct or indirect fashion.