IRA Wealth Formula Part II

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http://districtreia.com If you are considering using a self-directed IRA to purchase property you can NOT live in the house—in other words—you cannot use a self-directed IRA to purchase personal use property.

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IRA Wealth Formula Part II

  1. 1. IRA Wealth Formula Part II If you are considering using a self-directed IRA to purchase property you can NOT live in the house—in other words—you cannot use a self-directed IRA to purchase personal use property. If you do use the property for personal use— it is considered an early withdrawal and you will be taxed and penalized. The personalproperty limitation applies to family members as well.Another option is to form an LLC to manage your self-directed IRA.Because of the implications you should always consult an attorney whensetting up this type of LLC.Visit us to know more about real estate investing in Washington DcProfessional Hearing Centers

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