IRA Investments – Individual Mortgages
Does the IRS allow an individual mortgage to be purchased within an IRA from a Financial Institution? Is the answer different if I am the mortgagee and I also own the Financial Institution?
Does the IRS allow an individual mortgage to be purchased within an IRA from a Financial Institution? Is the answer different if I am the mortgagee and I also own the Financial Institution?
Permalink Submitted by Alan Spross on Mon, 2008-06-09 21:20
Your IRA can purchase a mortgage, but not if you are either the seller or control the financial institution. These latter cases would be self dealing and are prohibited transactions.