Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply presented by

User Stats

2
Posts
0
Votes
Amando Lopez
  • Software Engineer - Retired
  • San Juan Bautista, CA
0
Votes |
2
Posts

Solo401K - Can I use my small farm as qualifying self employment?

Amando Lopez
  • Software Engineer - Retired
  • San Juan Bautista, CA
Posted

Hello everyone.  Recently joined BP and have learned much from the forums, articles  and blogs.

I am retired, have an IRA with a brokerage, and would like to set-up a self-directed IRA/LLC or Solo 401K and rollover a portion of that IRA to invest in real estate. I prefer the Solo 401K, but not sure I would qualify.

I have a small farm where I raise sheep. I claim the income and expenses for the farm on my taxes (Form 1040, Schedule F). Does anyone know if this would qualify as self employment for the purposes of setting up a Solo 401K? If not, I will probably have to go with the self directed IRA/LLC.

Thanks!

Loading replies...