3 ms·
Wanted to add to this that there is very little that would stop IRS from taking IRA status off your account (unless you're Peter Thiel) and forcing you to sell
by sakopov 5y ago
Wanted to add to this that there is very little that would stop IRS from taking IRA status off your account (unless you're Peter Thiel) and forcing you to sell all assets and pay capital gains if you committed a prohibited transaction. An example of such IRA violation that's fairly common is buying rental property with IRA and utilizing it for personal use.