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Author: susan400 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: real estate in a IRA Date: 5/6/2011 12:52 PM
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as discussed here, some custodians will ket you invest in real property, like RE.

according to IRS regs it has to be " no delf dealing", anyone take a shot, would attaining a qualified apprasial
on a propery one owns and then selling it to the custodian be kosher?

TIA

Susan400
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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113362 of 121114
Subject: Re: real estate in a IRA Date: 5/6/2011 12:55 PM
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according to IRS regs it has to be " no delf dealing", anyone take a shot, would attaining a qualified apprasial
on a propery one owns and then selling it to the custodian be kosher?


Since you are one of the parties involved in the sale, it sounds a lot like self-dealing to me.

AJ

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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113363 of 121114
Subject: Re: real estate in a IRA Date: 5/6/2011 1:52 PM
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according to IRS regs it has to be " no delf dealing", anyone take a shot, would attaining a qualified apprasial
on a propery one owns and then selling it to the custodian be kosher?


I'm not Jewish, so I can't speak to keeping kosher.

But for tax purposes you cannot sell anything to, or buy anything from, your IRA.

--Peter

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Author: susan400 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113387 of 121114
Subject: Re: real estate in a IRA Date: 5/9/2011 4:27 AM
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RE IRA thx shucks.

Hmmm how to accomplish this.
sell to a strawman for 12 mo then to teh IRA?

susan400

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113388 of 121114
Subject: Re: real estate in a IRA Date: 5/9/2011 6:02 AM
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sell to a strawman for 12 mo then to teh IRA?

Somehow I don't see a tax plan involving the word "strawman" coming to a good end. People who think they've outwitted the law tend to be blabbermouths about it, and sooner or later those party poopers at the IRS will get wind of it.

I'm curious. What is it about holding this particular piece of property in an IRA that so appeals to you?

Phil
Rule Your Retirement Home Fool

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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113389 of 121114
Subject: Re: real estate in a IRA Date: 5/9/2011 12:33 PM
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RE IRA thx shucks.

Hmmm how to accomplish this.
sell to a strawman for 12 mo then to teh IRA?


"Strawman" isn't going to pass the self-dealing sniff test.

How about - Buy a different property with the IRA and sell or keep the non-IRA property as you see fit.

AJ

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Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113392 of 121114
Subject: Re: real estate in a IRA Date: 5/9/2011 1:52 PM
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How about - Buy a different property with the IRA and sell or keep the non-IRA property as you see fit.

AJ

==========================
I was reminded in a related topic in another thread:
You pretty well have to do the acquisition with all equity money to avoid having the property generate UBTI to the IRA. (Income from debt-financed property is UBTI.)

Which isn't the end of the world, but it destroys any advantage you had in holding the property in an IRA.

Bill

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Author: susan400 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 113399 of 121114
Subject: Re: real estate in a IRA Date: 5/10/2011 10:55 AM
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AJ - thx for your sober advice, expected, just was dreaming for a bit.

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