403(b) Rollover to Real Estate
Can a person age 60 do a rollover to purchase a condo for son and son pay rent and rental
proceeds go back into IRA?
Can a person age 60 do a rollover to purchase a condo for son and son pay rent and rental
proceeds go back into IRA?
Permalink Submitted by mk foss on Mon, 2010-04-05 16:49
No, this won’t work. A 403(b) can be rolled to an IRA and an IRA can invest in real estate (although there are many strict rules to follow in such a case) BUT renting to a relative will disqualify the IRA and make it fully taxable to the owner.