Advising Self-Directed IRA Clients: Case Updates

Recent developments in tax law focus on three major tax cases pivotal to self-directed IRAs: 

• Peek and Fleck v. Commissioner
• Ellis v. Commissioner
• Gist v. Commissioner

The first two opinions discuss the important issues pertaining to reporting hard to value assets while the 2014 opinion discusses the new reporting requirements in 2014. Join attorney Frank Selden as he analyzes these cases and provides case studies to highlight the primary issues involved in self-managing one’s qualified funds through an IRA. This course reveals the latest pitfalls that both attorneys and CPAs must know to properly counsel clients with SDIRAs.

Learning Objectives:

I.    Identify key issues in the Peek, Ellis and Gist cases

II.   Understand prohibited transactions and effectively avoid them

III.  Recognize incomes taxable to IRAs and report them

IV.  Know the new reporting requirements beginning with reports for 2014