inherited ira
can i invest some of that money in covering my house that i have a mortgage on. to 2 separate units renting one out living in the other one?
can i invest some of that money in covering my house that i have a mortgage on. to 2 separate units renting one out living in the other one?
Permalink Submitted by Alan - IRA critic on Tue, 2019-02-26 16:32
No, you cannot transfer to a self directed IRA custodian, sell the current investments in the inherited IRA and purchase the property for yourself. However, you can certainly distribute more than the inherited IRA RMD and spend that money anyway you wish, for example paying down the mortgage. All distributions from the inherited IRA will of course be taxable.