Prohibited Transaction
Gold IRA Glossary
A transaction between an IRA and the account owner or certain related people that the tax code does not allow, such as buying metal from yourself, storing IRA metals at home, or pledging the account as loan collateral. A prohibited transaction can cause the entire IRA to lose its tax-advantaged status, making the full balance taxable. This is a key reason IRA metals must stay with the custodian at an approved depository.
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