real estate in IRA
A self directed IRA holds timberland. Can an undivided interest in the land be transferred to a Roth IRA for the same IRA beneficiary?
A self directed IRA holds timberland. Can an undivided interest in the land be transferred to a Roth IRA for the same IRA beneficiary?
Permalink Submitted by Alan - IRA critic on Mon, 2014-11-03 23:43
Yes, a % interest can be converted, but the IRS will be closely looking at the value used for the conversion and shown on the 1099R issued by the SD IRA custodian. Form 5498 now includes a box to report the type of self directed investment held in IRA accounts, so the IRS is now looking at such conversions carefully.