Does land owned within an IRA need to be listed on Schedule A?

[Yahoo Bot]

Shawn:
Assuming your facts are 1/3 in name of debtor and 2/3 in name of IRA, then A
has 1/3 with FMV possibly discounted as due to co-ownership and IRA listed
at the value of its assets, including RP.
If you can't exempt debtor's personal 1/3, beware of 363(h). IRA might
trump trustee's right to sell both interests, but if IRA got full cash value
for property, it seems to me that t'ee could sell it.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com

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[Yahoo Bot]

list ownershp as it is owned. 1/3 on a and 2/3 as ira value. However, I would check with an IRA expert to see if the IRA can own what debtor says it owns, cause if it cannot, not exempt.
d

The post was migrated from Yahoo.

[Yahoo Bot]

Client owns a lot of Property but 2/3 of it is in an IRA. Does it need to be listed individually on Schedule A then exempted on schedule C?
Or is listing the total value of the IRA on B and exempting the IRA on C sufficient?
Shawn

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