Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can personal funds in retirement accounts be used as a good faith deposit on a property and reimbursed later once the transfer is complete?

0
Posted

Can personal funds in retirement accounts be used as a good faith deposit on a property and reimbursed later once the transfer is complete?

0

No. Tax laws prohibit any act between the plan and the retirement account holder selling, exchanging or leasing property or lending money, credit for furnishing goods, services or facilities.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123