Loan & Distribution Specialist AimPoint Pension
|
Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
Compass
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
AimPoint Pension
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Beware of Prohibited Transactions in Self-Directed IRA Investment Opportunities
Bloomberg BNA May 20, 2013
"A taxpayer who has a self-directed IRA and who guarantees a loan entered into by a company the shares of which are owned by the IRA runs afoul of the tax Code's prohibited transaction rules, causing the account to fail to qualify as an IRA, according to the Tax Court[.]" [Peek v. Comr., 140 T.C. No. 12 (2013)]
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |