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Mike Pichik
  • Omaha, NE
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IRA to 1031 for Real Estate Invenstment

Mike Pichik
  • Omaha, NE
Posted
Looking for some guidance. I have about $100k in a self-directed securities IRA. I've picked up on bits of information that indicate I might be able to convert those monies, through a 1031, into funds to be used to invest in real estate. Is that possible? And if so can I do it without early withdrawal penalties and income tax implications? Appreciate any feedback and/or recommended resources to research.
  • Mike Pichik
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    Dave Foster
    • Qualified Intermediary for 1031 Exchanges
    • St. Petersburg, FL
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    Dave Foster
    • Qualified Intermediary for 1031 Exchanges
    • St. Petersburg, FL
    Replied

    @Mike Pichik, No connection between 1031 exchanges and your self directed IRA. 1031 is for the tax deferred sale and purchase of investment real estate outside your IRA. Your funds are already in a tax deferred vehicle.

    • Dave Foster
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    The 1031 Investor
    5.0 stars
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