tag:blogger.com,1999:blog-32917474.post2078059750182798166..comments2010-09-28T05:57:30.692-07:00Guidant Financial Grouphttp://www.blogger.com/profile/01694575276309219248noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-32917474.post-29040083795049070272010-02-01T08:55:25.171-08:002010-02-01T08:55:25.171-08:00Anonymous said...David, My mom bought a Bank Owned home through her self directed IRA. I represented her as a RE broker in the purchase but waived my commission. Afterward we were told that I, being her son, was a resticted party and should not have been involved in the transaction regardless of waiving my commission? Now, after making many improvements to the home, she would like to flip it. If I act as broker and again waive the commission she would net a much better return. My question is how strict is the IRS in inforcing this restricted person rule when no money is involved? What risk do we run of the IRA disqualifying the transaction? And is there a way to contact the IRS and get a waiver prior to the sale? Thank You. TomTomhttp://www.blogger.com/profile/16928603525428679768noreply@blogger.com