Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: notesfiles 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