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Robert Burns
  • Wholesaler
  • from Baton Rouge, Louisiana
  • Member since Jul 21, 2008
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Robert Burns's profile image
Robert Burns's profile image
Robert Burns
  • Wholesaler
  • from Baton Rouge, Louisiana
  • Member since Jul 21, 2008
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Robert Burns
  • Wholesaler
  • Baton Rouge, LA
97
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471
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Tax, SDIRAs & Cost Segregation

Prohibited Transactions in Self Directed IRA's

Robert Burns
  • Wholesaler
  • Baton Rouge, LA
Posted

I need some input on self directed IRA's. If I bought a mobile home or other property with the IRA and collected the lease payments from a lease purchase agreement and paid the federal and state taxes would that constitute a prohibitive transaction? If so what additional tax penalty might I incur?

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