In Re Daley

MEMORANDUM

RICHARD STAIR, JR., Bankruptcy Judge.

This contested matter is before the court on the Trustee’s Objection to Debt- or’s Claim of Exemption filed by Ann Mos-toller, Chapter 7 Trustee, on November 11, 2010, as amended by the Amended Objection to Debtor’s Claim of Exemption filed on May 10, 2011, objecting to the Debtor’s claimed exemption in a Merrill Lynch Individual Retirement Account (Merrill Lynch IRA) in the amount of $61,646.00. In support of her Objection, the Trustee argues that the Debtor engaged in a prohibited transaction causing the Merrill Lynch IRA to lose its tax exempt…