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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I invested $50,000 in a movie 10 years ago. The movie is

Customer Question

I invested $50,000 in a movie 10 years ago. The movie is slated to be released in two months. I read that it is possible to start a business with an IRA. So, my question is: Is it possible to defer the income generated from this movie by selling it to
a new company funded by my IRA?
Submitted: 2 years ago.
Category: Finance
Expert:  PDtax replied 2 years ago.
Hi from Just Answer. You may be able to use a non-traditional IRA account to do this.
To investigate, I will need to review your agreement to finance, and review the agreement to see if it is one that might qualify.
Due to the technical nature of this work, I will ask for an addition to the price posted.
Accept, and I will work on this tonight.