News for hackers. Stuff that matters.

A comment on Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank. Parent comment

Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by prezjordan on Thursday June 24, 2021 @09:46PM (#27626278)
Not with funds in a Roth IRA. Everything must be at "arm's length" (otherwise a lot of people would purchase homes using their Roth)
[ Parent | on HN ]
Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by imgabe on Thursday June 24, 2021 @09:53PM (#27626311)
You can purchase real estate with a self directed IRA, not sure if it can be a Roth IRA, and probably not your primary residence, but I don't know the exact rules.
[ Parent | on HN ]
Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by nrmitchi on Friday June 25, 2021 @09:12AM (#27630330)
You can purchase property with a Roth.

It cannot be your primary residence.

You have to be entirely hands-off with it. You are not allowed to manage the property, do repairs, etc.

You are still not allowed to decree that the value of a house that you own is $10 and sell it in to your Roth in order to shelter it from taxes and get around contribution limits.

[ Parent | on HN ]