I have a self-directed IRA. It currently resides with a mutual fund company. An unrelated friend is forming a general/limited partnership to invest in a business. May I take some of the funds from my self-directed IRA and be a limited partner in this business? Do I have to go through a trustee? What kind of paperwork does the general/limited partnership have to generate, and who gets copies? What happens to any depreciation that comes to my IRA?

Sincerely, Harold