How Do I Accept/Use Private Money in a Flip without Paying Taxes
I am looking to family members to help finance the down payment of my first flip and possible future investments. I want to know if there are any specific steps or things I/they need to do in order to avoid paying taxes. I'm in Menifee California, not sure if there may be state specific rules.
They may be pulling the money from stocks, IRA, 401K or savings. Loans ranging from $5,000-$100,000
How do I avoid taxes for receiving the money since I am just immediately putting that money into a property/investment?
How can they avoid paying taxes for removing/cashing out the money from stocks, bonds, and savings because they are loaning it?
I know 401Ks and IRAs are fairly easy to move back and forth to real estate. What is this process?
Thank you in advance! Please feel free to ask any questions that may help determine my best course of action.