thiel pioneering a tool for the people here…
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can you transfer an LLC wholesale into an IRA?
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I think it works like, if you have a balance of $24k in your Roth you could use that to buy up to $24k worth of company shares. He had 1.7 million PayPal shares in his account in 1999, “worth” $1700. That grew a toooon & he invested in FB through it.
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But it also sounds like you can pay a tax to transfer anything to a Roth
so if you’re okay with not withdrawing money until you’re 59, that could be amazing for investments - Show replies
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No because all holdings in an IRA must be done at "arm's length". Putting a LLC where you own 50+% or a director would be considered "self-dealing" and would be a prohibited transaction.https://www.rocketdollar.com/learn/compliance-logistics-and-self-care/self-dealing/what-is-self-dealing …
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For example, if you invest in real estate you may not self-manage the property and all maintenance expenses must be paid directly from the IRA.
End of conversation
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