 IRA Disqualified Persons? (by WMH [NC]) Feb 4, 2023 2:53 PM
 IRA Disqualified Persons? (by WMH [NC]) Feb 4, 2023 3:39 PM
IRA Disqualified Persons? (by BRAD 20,000 [IN]) Feb 4, 2023 4:37 PM
IRA Disqualified Persons? (by WMH [NC]) Feb 4, 2023 4:54 PM
IRA Disqualified Persons? (by Ray-N-Pa [PA]) Feb 5, 2023 9:29 PM
IRA Disqualified Persons? (by WMH [NC]) Feb 5, 2023 9:42 PM
IRA Disqualified Persons? (by BRAD 20,000 [IN]) Feb 6, 2023 2:27 AM
IRA Disqualified Persons? (by Ray-N-Pa [PA]) Feb 7, 2023 11:15 PM
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IRA Disqualified Persons? (by WMH [NC]) Posted on: Feb 4, 2023 2:53 PM
Message:
I can go research but thought I'd ask here too why not?
Can my son's daughter (my blood granddaughter, so disqualified to me) borrow/get gifted IRA money from her step-grandfather?
In fact, can my SON be gifted/borrow money from his stepfather? --50.82.xxx.xxx |
IRA Disqualified Persons? (by WMH [NC]) Posted on: Feb 4, 2023 3:39 PM
Message:
Never mind, looked it up and answer was easily found. FWIW, YES he can lend money through a self-directed IRA to steps (children or grandchildren.)
I could NOT, however, lend money to my other son's ADOPTED daughter, as legally adopted children are disqualified.
In case anyone was idly wondering about such things. --50.82.xxx.xxx |
IRA Disqualified Persons? (by BRAD 20,000 [IN]) Posted on: Feb 4, 2023 4:37 PM
Message:
W,
Interesting!
I would have thought if the step grand father is married in that would put him in vertical lineage to the grandaughter.
Warn step grandfather that loaning money to family is a disaster waiting to happen. At minimum it changes the relationship and Thanksgiving.
Back when we were first married and living on $600 a month income my Dad sold us his old car for $50 per month. Wifey made a few payments then could not stand it. She said "I don't want to owe my father in law money and see him every Sunday for dinner."
BRAD --73.103.xxx.xxx |
IRA Disqualified Persons? (by WMH [NC]) Posted on: Feb 4, 2023 4:54 PM
Message:
Marriage apparently isn't the key, it's where or not the son was legally adopted back in the day and he wasn't. So despite being his son for 37+ years, not a disqualified person legally, nor is his daughter (to DH, not to me.) Good to know!
We've loaned money to our kids before, Brad. We borrowed from our in-laws when we were younger, too. If you can't trust your family, who can you trust? --50.82.xxx.xxx |
IRA Disqualified Persons? (by Ray-N-Pa [PA]) Posted on: Feb 5, 2023 9:29 PM
Message:
One up or one down for family and your sibs are a no-no.....all in laws are good to go though.
--24.101.xxx.xxx |
IRA Disqualified Persons? (by WMH [NC]) Posted on: Feb 5, 2023 9:42 PM
Message:
Sibs are NOT a no-no, in fact. It's direct line up and down only. So blood kids, grandkids, parents or grandparents are disqualified but not sisters or brothers. --50.82.xxx.xxx |
IRA Disqualified Persons? (by BRAD 20,000 [IN]) Posted on: Feb 6, 2023 2:27 AM
Message:
W,
I don't doubt your family for a moment. You are in the 1%.
It's the rest of us 99% I worry about.
Ray,
ANY up or down, all generations.
BRAD --73.103.xxx.xxx |
IRA Disqualified Persons? (by Ray-N-Pa [PA]) Posted on: Feb 7, 2023 11:15 PM
Message:
I stand corrected: Spouse, Parents, Grandparents and great-grandparents, Children and their spouses, Grandchildren, great-grandchildren, and their spouses --24.101.xxx.xxx |
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