Step Daughter Disqualified?????
I made a loan to my step daughter from my self directed IRA account.
My trustee subsequently determined the loanee, as my step duaghter, is a disqualified person.
My reading of the code does not disqualify my step daughter. I never adopted her and she is not my lineal descebdant???
Your opinion will be appreciated.
Thank you.
Permalink Submitted by mk foss on Mon, 2009-12-14 01:53
I’m just going from memory but I think a disqualified person is a lineal descendent of the IRA owner and/or spouse.
Permalink Submitted by Alan Spross on Mon, 2009-12-14 02:56
Copy of definition of “family” for purposes of disqualified person in Sec 4975:
>>>>>>>>>>>>>>>>>.
(6) Member of family
For purposes of paragraph (2)(F), the family of any individual shall include his spouse, ancestor, lineal descendant, and any spouse of a lineal descendant.
>>>>>>>>>>>>>>>>
Appears to support the contention that she is NOT disqualified, adopted or not. Wonder if they will request her birth certificate………
Permalink Submitted by Kristine Marion on Mon, 2009-12-14 14:52
I believe that you should consult a better Attorney who is well versed with the issues. As you can have a clear idea from alan-oniras
————
Kristine
[url=http://www.eauparfum.net]parfums[/url%5D