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Updated almost 9 years ago, 03/11/2016
Paying for legal advice when using an IRA
I'm looking to enter a JV using funds in my SDIRA. I want an attorney to look over all the documents.
Does this attorney need to be paid with funds pulled from the IRA, or can I just pay him myself?
Generally speaking, you are allowed to pay out of pocket if the expenses are associated with plan administration itself. If the legal services are related to an investment, the plan assets should be used to pay for the expense.
Loren, that's what I thought. Thanks!
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