Qualified dollars to Purchase Farmland
Former Client has a 401k. He just left employment there. He is purchasing some farmland. Therefore there will be an income return on the land. Is there a way to use Qualified money to purchase farmland? Can he use the 401k dollars? Or, if the dollars would be moved into an IRA, or as an IRA, could the dollars be invested into farmland? I guess the question is: can Qualified money be invested into farmland?
Side note. There is a loan provision in the 401k.
Don
Permalink Submitted by Alan - IRA critic on Mon, 2023-06-26 18:58
If the farm land will be rented out, client could directly roll the 401k to a self directed IRA custodian that supports real estate holdings. But not if the client plans to operate farming activities.
Permalink Submitted by Don Breuker on Tue, 2023-06-27 13:39
Thank you Alan. I saw your note yesterday.