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Personal Finance and Investing

stopdiggin

(13,820 posts)

1. doesn't spell out very clearly

Reply to question everything (Original post)

Sat Dec 4, 2021, 02:45 AM

Dec 2021

where the illegality arose.

.. they had the IRAs purchase shares in limited-liability companies that in turn invested about $730,000 in a condominium plus gold and silver American Eagle coins. These moves are legal: The law allows IRAs to invest in physical gold and silver, and many savers hold alternative assets through LLCs to ease administration.

Headline makes it sound like it was the storing of the assets 'at home' that breached the law. I'm not sure if that is really the case?

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A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000. [View all] question everything Dec 2021 OP

doesn't spell out very clearly stopdiggin Dec 2021 #1