Someone bought stock in their IRA in their son's company, of which he owns 75%.
- A disqualified family member owns over 50% of this company.
My IRA loaned money to my daughter for her student loans.
- Your IRA is unable to transact directly with your daughter, a disqualified person.
My IRA bought a great vacation property, which we rent out for 75% of the year. My family enjoys a few vacation months when the property is free.
- You are not allowed to directly benefit or live-in property that is owned by your IRA.
I bought a property through my IRA. I leased it to my spouse's rental management company, of which she owns 70% and other investors own the remaining 30%.
- If other investors owned 70% and your family-owned 30%, you would be in the clear, but be careful of engaging in a self-dealing transaction related to how you and your wife manage the property.