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Roth IRA transfer to SDIRA
Brand new to RE investing and motivated to get started. Does anyone know if there is a penalty for converting a Roth IRA to a SDIRA to purchase an investment property? Research tells me that there is not a penalty as long as it's strictly an investment property. Anyone that has expert knowledge or prior experience doing this is greatly appreciated.
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
@Michael Plaks, sorry to spoil your evening!
As a tax expert you know that that are numerous tax loopholes, but when it comes to retirement accounts - there aren't. And my advice to readers - when it comes to retirement accounts, follow the rules, don't look for loopholes.