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Updated over 11 years ago on . Most recent reply

User Stats

179
Posts
33
Votes
Bret N.
  • Real Estate Broker
  • Woodbridge, VA
33
Votes |
179
Posts

Using The Wife's IRA for funding? Can my LLC make a profit from?

Bret N.
  • Real Estate Broker
  • Woodbridge, VA
Posted
My wife has a self-directed IRA through Equity Trust that she transferred over to several years ago. These are funds from an old account she had from a job she had years ago prior to us getting married. Is it okay to use these funds via ET to invest in my LLC for purchasing a property? Like other investors of which I use IRA's for my PLing , there is a prom note and mortgage declaring her % per annum and when the house sells it rolls back into her account Does this conflict since we are married and my LLC makes a profit? What are tax implications?

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