All Forum Posts by: John R ables

I have 8 properties in my IRA. One of them bought years ago would really would be a good retirement place for me. I know the IRS rules indicate that I could not 'sell' the property to myself or use the property. Does anyone have experience in legally converting an IRA property to personal use? Even if it is a long term process (I know about the 5 year look back rule). Any ideas?

I own 8 properties in a self directed IRA. I am interested in selling one or more, but I want to carry the paper for a continued income stream.

My questions are as follows:

How would the transaction be handled from a paper work prospective? On one particular property I have $90k invested and it would sell for $240k.

Would the IRS consider this a distribution of the net sales prices say $225k , even though I may only get $10k down?  or

Would this be considered an installment sale like I have done outside my IRA?

My custodian in Equity Trust.

If you have done something similar please let me know. Thanks!