can client take loan from IRA
i have a clioent buying a home. They want to take a loan from their IRA. He is 71 years old. They are working with a realtor that told them they can do an option that involves a loan from the Ira to another party not involved in their family or anything else – we understand we can make an unsecured loan/note from our Ira.
Is this doable? Thanks! Susan
Permalink Submitted by Alan Spross on Mon, 2010-03-08 21:27
Not if the house is for him or any disqualified party relative.
Permalink Submitted by Susan Kendall on Wed, 2010-03-10 15:02
Thank you for verifying….Susan