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Lots of people are interested in owning property in their individual retirement account (IRA). It can be done, but in this video, “Big Al” Clopine, CPA offers six things you might want to consider first.

1. You can’t have a mortgage in an IRA
2. You cannot work on the property yourself
3. There are no tax benefits
4. You must pay all your property taxes in the IRA
5. No personal use is allowed
6. RMDs must be taken from real estate in your IRA

For more useful information about individual retirement accounts, check out our comprehensive blog post, IRAs: Everything You Need to Know

 

Advanced IRA Strategies

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About the Host

Alan Clopine

CEO & CFO

CPA, AIF®

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently shares the CEO role with Michael Fenison, the original founder of the company. Alan is primarily responsible for the day-to-day activities of...