Individual Retirement Accounts - Kinds of IRAs and Prohibited Transactions
This handout discusses the various types of IRAs and the tax benefits and implications of each. It also discusses the effect of the taxpayer's participation in prohibited transactions within these types of accounts.
Simplified employee pensions (SEP).
CLIENTS WHO MAY BENEFIT:
Taxpayers who want to understand the differences in the types of IRAs.
Taxpayers who want to know what an IRA can be invested in and what it cannot be invested in.