Posted by Bud Branstetter on January 21, 2001 at 10:58:57:
Look at it from the IRS’s viewpoint. If your wife had control or influence over the decision then they would attack it on an audit. In reality they don’t do random audits on IRA’s at this point.
There should be a way that she can recuse herself from the decision on leasing this property so there would be no conflict.
self dealing ira question - Posted by shawn
Posted by shawn on January 21, 2001 at 02:03:13:
anyone with IRA experience please help! I am working on a project where I want to use my wife’s IRA as a down payment for land contract to purchase a property. then inturn lease option the property to a corporation, where she sits as an officer of the corporation I want to lease to. Can this be done using the MIDOH self dealing IRA.
thanks.