The 1031 Exchange Institute

Welcome to The 1031 Exchange Institute™. The 1031 Exchange Institute is your complete online resource for 1031 exchange, 1033 exchange, 1034 exchange, 721 exchange, 453 installment sale and 121 exclusion information.  Information will also be provided regarding Self-Directed IRAs, including Traditional IRAs, ROTH IRAs, SEP-IRAs and SIMPLE IRAs. 

The 1031 Exchange Institute is dedicated to educating and informing real estate investors and their advisors on the benefits of 1031 tax-deferred exchanges and other tax deferred and tax exlcusion strategies so they can make better informed investment decisions.

THE SELF-DIRECTED IRA BLOG™

Welcome to The Self-Directed IRA Blog™. The Self-Directed IRA Blog is sponsored by Exeter IRA Services, LLC to help educate and inform real estate investors and their advisors so they can make better informed investment decisions when investing in real estate related assets inside a Self-Directed IRA.  The Self-Directed IRA Blog will cover all things related to Self-Directed Individual Retirement Accounts, including Traditional IRAs, ROTH IRAs, SEP-IRAs and SIMPLE IRAs.  You are welcome to post a comment on any of the articles or ask follow-up questions, but please no solicitations or SPAM posts.

Friday
Nov232012

IRS Refused Taxpayer's Request for 60-Day Waiver 

The Internal Revenue Service ("IRS") declined to approve a taxpayer's request for a waiver of the 60 day IRA Rollover Rule.

The taxpayer alleded that her failure to complete her IRA Rollover within the required 60 day period was due to her use of the distributed IRA funds to finance her move to a nursing home and her inability to replace the funds from the sale of her residence within the 60 day IRA Rollover period.

The IRS took the position that the taxpayer's choice to use the funds was her choice and she assumed the risk that the funds might not be returned to her on time. Therefore the IRA distribution is taxable.