The Don'ts:

1. Don’t create a prohibited transaction by having your IRA transact with yourself personally, your spouse, descendents, or ascendants (e.g. avoid self-dealing); Click here for information on prohibited transactions.
2. Don’t engage in a transaction with your IRA and a third party’s IRA on a “quid pro quo” or reciprocal basis in attempt to circumvent an otherwise prohibited transaction;
3. Don’t deal with an entity that you or the some of your related disqualified persons own 50% or more of;
4. Don’t personally guarantee a loan that your IRA obtains;
   
5. Don’t make personal (including disqualified persons) use of any asset your IRA owns;
6. Don’t provide more than ministerial services (e.g., decision-making) to your IRA or IRA owned entity (e.g., no “sweat equity”);
7. Don’t take any personal compensation for any services provided to your IRA or as a result of a transaction that your IRA participates in;
8. Don’t engage in any transaction that results in any personal gain for you or your disqualified persons (other than the benefit that the IRA receives (e.g., a guarantee of employment);
9. Don’t co-invest personally with your IRA in any asset that you use as a loan collateral;
10. Don’t take constructive receipt of any income from assets owned by your IRA and do not pay (personally) the expenses of assets held by your IRA.