Avoiding a Prohibited Transaction for Your Self-Directed IRA
The Internal Revenue Service (IRS) categorizes certain investments as prohibited transactions, and the consequences for these improper investments can be severe, including losing IRA status and thus being required to pay taxes on the account, plus penalties for the prohibited transaction. It’s critical for investors in self-directed IRAs, especially IRA LLCs, to understand what constitutes a prohibited transaction so they can protect themselves and their assets.
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