WaterfrontSML Posted February 8, 2023 Share Posted February 8, 2023 I have a single family home that was purchased by my self directed IRA several years ago. I want to move this property out of the IRA into joint ownership with my wife. Self directed IRA rules say I cannot move the home directly into our names. I would appreciate any suggestions or referral to a tax professional that could make this transition easier and with minimum cost. I reside in Virginia. Thank you for your Help! Quote Link to comment Share on other sites More sharing options...
Melanie Sikma Posted February 21, 2023 Share Posted February 21, 2023 Moving property out of the IRA in your joint account is called a prohibited transaction and it will disqualify your IRA. The property would need to be sold to an unrelated third party and then repurchased by you, probably after a reasonable time goes by. Hope this helps! Quote Link to comment Share on other sites More sharing options...
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