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by erentz
1819 days ago
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I’m still not really following, what are you saying about assigning income distribution? But so the way the article made it sound then is his IRA paid for the shares at par value ($1700 = 1700000 shares IIRC). Even though they were of course worth more than par value, so then he owes money to the company for the difference but if that wasn’t paid out of the IRA that would seem an incredible and surely illegal tax dodge so I don’t think that could be the case. |
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https://sdirahandbook.com/self-directed-ira-investing/fund-s...
it is in section: Need to Know #1: Prohibited Transactions