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Can I ever buy a property from my SDIRA?
I have a rental property that’s in my SDIRA that I would like to purchase from it to live in in my retirement. Is there a way to do that?
If so, would the SDIRA be able to finance the transaction, in whole or in part, as “Seller Financing”?
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- Solo 401k Expert
- Anaheim Hills, CA
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Michael, IRS rules state that the following are prohibited:
1. A disqualified person’s transfer of plan income or assets to, or use of them by or for his or her benefit
2. A fiduciary’s act by which he or she deals with plan income or assets in his or her own interest
3. A fiduciary’s receipt of consideration for his or her own account in a transaction that involves plan income or assets from any party dealing with the plan
4. Any of the following acts between the plan and a disqualified person:
- Selling, exchanging, or leasing property
- Lending money or extending credit
- Furnishing goods, services or facilities
Source: https://www.irs.gov/retirement-plans/plan-participant-employ...
As you can see neither of your scenarios would be possible.