Posted by Ed Copp (OH) on July 19, 2003 at 10:40:28:
to sell to your own IRA would probably be seen as self dealing. In my lay opinion you would have a problem with selling your IP to your IRA. Sell it to your brothers and it most likely would fly.
Talk to a real pro, before you start.
intellectual property in IRA? - Posted by jenv
Posted by jenv on July 18, 2003 at 15:45:34:
Can one contribute intellectual property, like patents and copyrights, to one’s own IRA? How would one value such a contribution for purposes of the annual $3k (or whatever it is now) contribution limit?
I assume one’s IRA can simply buy someone else’s IP.
Re: intellectual property in IRA? - Posted by William L Exeter
Posted by William L Exeter on July 21, 2003 at 23:56:41:
No, you can not contribute intellectual property to your own IRA. Contributions must be made in cash and are subject to the limitations ($3,000 for 2003 for Traditional and Roth IRAs). Your IRA can purchase intellectual property from a non-related third party in an arms length transaction (no self-dealing is allowed).
Bill Exeter
Diversified Retirement Services Corporation