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Path: utzoo!watmath!clyde!floyd!harpo!seismo!hao!hplabs!hp-pcd!hpfcla!rmd
From: rmd@hpfcla.UUCP
Newsgroups: net.taxes
Subject: Re: IRA
Message-ID: <29700001@hpfcla.UUCP>
Date: Sat, 17-Mar-84 20:55:00 EST
Article-I.D.: hpfcla.29700001
Posted: Sat Mar 17 20:55:00 1984
Date-Received: Fri, 9-Mar-84 01:00:33 EST
References: <534@ihuxb.UUCP>
Organization: Hewlett-Packard Fort Collins Systems Division - Fort Collins, CO
Lines: 13
Nf-ID: #R:ihuxb:-53400:hpfcla:29700001:000:563
Nf-From: hpfcla!rmd    Mar  5 17:55:00 1984

I am  interested in your comment  about being able to take a 60 day loan
on an IRA  without  penalty.  This  seems  to  contradict  something  my
brother (a CPA) told me.  He said that using your IRA as collateral  for
a loan would be  interpreted  by the IRS as grounds for invoking the 10%
penalty  rule.  However,  I did not ask him  specifically  about  60 day
loans and it has been  about two years  since I talked to him about  the
subject.

What was your  source of  information?  Was my brother  wrong?  Have the
rules changed?

Rick Dow
inhp4!hpfcla!rmd