I have self directed traditional IRA comprised of stocks and cash. Can I borrow $ from it, what terms?

Question:

Do I pay interest on the loan balance to the IRA. What rate? Any time limit on Loan? Can amount of loan be up to total IRA account balance, or limited to cash balance only?

Answer:
Loans are not allowed from an IRA..but...

but...but...but

You may withdraw your IRA funds...to rollover your IRA from one bank to another....You have 60 days to do this once you withdraw the money..so technically.you could use this money for something as long as you put it back in another IRA in 60 days...but if you dont put it in another IRA in 60 days the Govt is going to hammer you with a 10% penalty and you will pay taxes on that money!

"Loans are not permissible from a traditional IRA or a Roth IRA. However, if you qualify, you may move your traditional IRA pre-tax contributions into a 403(b) or self-employed 401(k) with loan features and borrow up the lesser of $50,000 or half of your account balance (see Loans)."

I have self directed traditional IRA comprised of stocks and cash. Can I borrow $ from it, what terms?

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