What's the best way to tax shelter $250K in flip profits?
In 2019, I'll fix & flip 3 properties with a total of $250K+ of profit. I just set up a Self Directed IRA but it only has $24K in it.
Can I invest just $24K from the IRA and then dump all $250K of profits back into the IRA as sheltered profits? I can't seem to locate a rule on the amount of profit the IRA can receive compared to the investment.
Any other ideas of good ways to shelter the profit from fix & flips? I'm only holding each property for 4-6 months so no 1031 option.
Thanks to all for ANY advice!