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How NOT to Invest in an Alternative Investment in Your IRA
Slott Report Link to more items from this source
Aug. 11, 2015
"The IRA owner wanted to invest his IRA funds in a note, the debt of an unrelated party.... [He] took distributions from two of his IRAs and threw in $100,000 of his own money and closed on the note.... [He] ends up with only one note ... titled in the name of his IRA.... What are his problems? ... [1] Titling an asset in the name of your IRA does not make it an IRA asset. Only an IRA custodian can hold an IRA asset. He cannot move the note into an IRA. [2] When you take a distribution of cash from an IRA it can only be replaced with cash. You must rollover what you took out. [3] Because of the IRA one-rollover-per-year rule, he can only rollover one of his distributions."

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