Loop/Prompt Library / Learn: Taxes
💬 AI prompt: Prohibited transactions: the account-killer
Your IRA can't do deals with you or close family, and breaking that rule can make the whole account taxable at once.
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I'm considering a self-directed IRA investment. Here is a plain description with no account numbers: [describe the investment, who is involved, and how each person is related to me]. List every person and company involved and, for each, the question I should ask a tax attorney about whether they could be a 'disqualified person' under IRC 4975. Do not give me personal tax, legal or investment advice and do not tell me what to do. Stop after the list.
How to use it
- Open Grok Bot, ChatGPT, Gemini or Claude — any of them works.
- Paste the prompt and fill in every [bracket]. Black out names, account numbers and member IDs first.
- Read the answer and double-check anything important before you act on it.
Not medical, legal or financial advice. The AI drafts; you decide and you press send.
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