Buying commercial truck using self-directed IRA
I have an opportunity to buy a commercial truck using my retirement account and then lease it out to an operator. I already have several people lined up who wish to lease it from me. I have general understanding of prohibited transaction rules and that I can not receive any personal benefits from investments of my IRA. I know that I can buy a rental property inside my 401k and rent it out. I want to get an opinion on my potential investment of a commercial vehicle. Do you see any issues with this, are there anything I need to be aware of, any potential pitfalls that I need to lookout for?
Most Popular Reply
Dmitriy Fomichenko
#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
- 6,331
- Votes |
- 18,003
- Posts
Adam, income generated in a Solo 401k from the unrelated business activity would still be subject to UBIT.