IRA legal Assets

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L1: IRA legal AssetsMy question is what is an IRA legal Asset?
My understanding is any investment in an IRA that is TAXABLE.
IN a 72T account mine is a (Custodial Brokerage Account)self directed Investments can be bought and sold within that account as long as they are taxable investments. Is this correct.
RJ2013-03-21 14:10, By: rj, IP: []

L2: IRA legal AssetsFor the most part, although be careful about “collectibles” which would be taxable when sold, but may not be on the approved investment list.
Also, be careful of MLP/PLP investments which might generate UBTI (unrelated taxable business income) which could require 990-T reporting and taxation, which would be extremely complex for a SEPP.2013-03-21 14:21, By: dlzallestaxes, IP: []