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Showing results for tags 'use of the asset'.
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feel like this is a dead horse but it periodically rears its ugly head with my clients...client wants to tap retirement plans(db and dc with h&w only participants) for purchase of second home without incurring distribution taxes. although i have had clients own real estate in plans it has never been in personal use real estate. so in a nutshell, i am of the opinion that even if the plan invests in a business or businesses that subsequently have ownership in a property which is for the personal use of a disqualified person then it would still be a prohibited transaction because it indirectly benefits the disqualified person.
