#396 OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions
Main Street Business
00:00
Tax Strategies - Is the IRS Holding 20% of the Distribution?
If you have an entity that, let's say, a solo KO, and it looks like that's what you might have here, you contribute to the account. Then that money goes into the LLC or entity you may have that that's invested into. So just make sure it hits the account, the bank account or the custodial account first. I've got a good question here. If I take 60%, will the IRS hold 20% for taxes and how would they do that if there is no cash available in the self-directed IRA? Ooh, great question. Can you unpack that a little bit?"
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