Does anyone know if an IRA (Individual Retirement Account) is protected from deficiency judgments?

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Permalink Reply by Bryant Tutas on August 14, 2011 at 1:13am

Going out in the newsletter today

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Permalink Reply by Roy Chambers on August 14, 2011 at 2:10am

I have not heard of a lender forcing a seller to pay from any retirement funds. However if you have a sale that may have tax implications & your seller is trying to prove insolvency by IRS standards in order to avoid the taxes they do use retirement funds to calculate that.

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Permalink Reply by Dean E Eshelman, CPA, CDPE, IRES on August 14, 2011 at 7:09am

Absolutely yes it is protected. An IRA is a qualified plan. It is not subject to forfeiture in judgements nor is in an asset available to a trustee in bankruptcy.

Dean Eshelman, CPA

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