Use IRA LLC to purchase my current primary residence

[Swati V Patel]

Hello everyone.

I will be moving out if state over the summer. I need recommendation on what are best options for my current primary residence. Right now I owned with my husband. We need upfront investment to start new active business at where we will be moving. I have come up with best option is to purchase with IRA LLC to get cash from build up equity when selling. Once I move I can rent or resell if need to. Is that legally valid to do it? ARE there other better ways to get cash to purchase active small business. Appreciate all the best recommendation.

[Edward B.]

NO! You are a disqualified person and cannot sell something to your IRA. You could wind up disqualifying your entire IRA with significant tax consequences.