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Updated over 3 years ago on . Most recent reply presented by

Tim Criswell's profile image
Tim Criswell's profile image
Tim Criswell
  • Investor
  • from Granite City, IL
  • Member since Jun 10, 2017

User Stats

14
Posts
4
Votes
Tim Criswell's profile image
Tim Criswell's profile image
Tim Criswell
  • Investor
  • from Granite City, IL
  • Member since Jun 10, 2017
Tim Criswell
  • Investor
  • Granite City, IL
4
Votes |
14
Posts
Tax, SDIRAs & Cost Segregation

Prohibited Transactions with a Self-Directed IRA/LLC

Tim Criswell
  • Investor
  • Granite City, IL
Posted

Is it "IRS legal" to buy a distressed property with a self directed IRA-LLC, hire a contractor to do all of the rehab., hire an atty., a realtor and other third party services to process the documents, and put every penny of profit back into the IRA the money came from without disqualifying my IRA? And if the answer is yes, is the line to do it properly/legally so tight, that I'd be better off doing it with funds that won't get the tax benefits?

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