It use to be that only short term loans of 3 days or less could be given to an IRA to help it weather short term cash flow issues. New rulings by authorities have changed these rules. You can now give a loan to your IRA for an unspecified period of time so long as it is interest free and unsecured and is for ordinary operating expenses or expenses incidental to the operation of the IRA. For additional details, please consult my expert team of self directed IRA coordinators. As with all things IRA and government related, you want to be especially sure that you understand the limitations of these ruling so as not to trigger any unknown tax consequences.
Did you know that you can loan money to your IRA?
About the Author: JOHN DANIEL
John is a well-rounded individual with multiple degrees in business, science, and medicine. Currently, John holds a California Brokers license and has founded Daniel Realty and Investments, considered to be a premier specialty Real Estate Brokerage firm that customizes its approach to its clients’ needs. Daniel Realty and Investments excels at Residential Real Estate Sales in Saddleback Valley as well as Residential Multi Unit properties for investors. John’s primary goal is to maximize clients’ wealth through careful planning and strategic decision making. Contact John today to learn how he can help you.