Posted by Wallace Pittman, JR on February 18, 2008 at 16:59:49:
What line on 1040 to show amount of an inherited IRA
Using IRA Funds Short term - Posted by Keith
Posted by Keith on September 03, 2007 at 08:23:12:
How long can you withdraw IRA funds before you have to reinvest in order to avoid getting hammered on taxes as ordinary income ? I am looking at flipping a deal and need 50K for about 45-60 days max. Can I withdraw the funds from my IRA, purchase the property, sell the property , and return the initial investment without any tax implications ?
Thanks,
Keith
Consider Real Estate IRAs - Posted by Mark
Posted by Mark on September 22, 2007 at 10:49:28:
Rather than flipping by using your IRA monies that way (for only 60 days max), consider using a spealized custodian who can help you use your IRA monies to invest in real estate. Fees can be high, and you have to follow IRA investment rules careful (ie, passive income only), but might be a better solution for you.
IRS Pub. 590 - Posted by blogger
Posted by blogger on September 03, 2007 at 11:27:48:
Find online and read IRS Pub. 590 on this. It has lots of good free info on IRA rules.
As I recall (haven’t looked at this in a long time) an IRA holder can legally borrow any amount from his own IRA for no more than 60 days in a calendar year without it’s being taxable as income.