Prohibited Transaction?
For reasons not worth going into, John Doe is considering selling a private placement investment in John Doe’s Roth IRA to John Doe’s Traditional IRA. The investment was purchased this year in the Roth and he would be using the same purchase price from that transaction. I can’t find anyting on self-dealing that states this is prohibited, but it smells fishy.
I appreciate any thoughts.
Permalink Submitted by Alan Spross on Fri, 2012-06-15 04:11
See the Self dealing section of the following article:
http://www.journalofaccountancy.com/Issues/2000/Apr/TheDosAndDonTsOfIraI…
Permalink Submitted by Kevin Fogarty on Fri, 2012-06-15 14:17
Thanks very much for your help.