Has anyone taken their IRA to fund deals and offset the early distribution penalties (10% and tax bracket) with RE tax breaks? What kind of tax breaks helped (e.g., depreciation, real estate professional status, etc)?
@Kadia Lawrence Have you considered buying real estate in your IRA by converting it to a Self-Directed IRA and avoiding the penalties all together where all the gains and appreciation grow tax free? Just a thought that I'm looking into. I haven't done it the other way.
@Kadia Lawrence Have you considered buying real estate in your IRA by converting it to a Self-Directed IRA and avoiding the penalties all together where all the gains and appreciation grow tax free? Just a thought that I'm looking into. I haven't done it the other way.
Hi Alecia! Thanks! I do have an SDIRA that I use for other people's deals. I have gotten mixed advice about using it for my own. I was wondering if just using the funds and offsetting penalties with real estate tax breaks can be another path??