Your Ira Cannot Transact With Your Spouses

The rule only says the account owner's ancestors. Siblings are not on the list. Your i r a could transact with your mother in law, because your mother inlaw's not your an or. Does not say the account owner spouses ancestors, so i could really stick to herwe you could transact with her. I had a client who bought a, used his ira. He bought a piece of real estate that he turned into a rental property. His in laws sold their house cause they were geting elderly. They got the sale of home exemption. Great. And they went rented from his i r a that owned the property. Totalenl eh.