Flip Strategy Saves $9K

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Flip Strategy Saves $9K (by Ray-N-Pa [PA]) Oct 27, 2021 10:51 AM

Flip Strategy Saves $9K (by 6x6 [TN]) Oct 27, 2021 12:09 PM

Flip Strategy Saves $9K (by Jasper [OH]) Oct 27, 2021 2:02 PM

Flip Strategy Saves $9K (by 6x6 [TN]) Oct 27, 2021 2:38 PM

Flip Strategy Saves $9K (by BRAD 20,000 [IN]) Oct 27, 2021 3:22 PM

Flip Strategy Saves $9K (by Ray-N-Pa [PA]) Oct 27, 2021 4:44 PM

Flip Strategy Saves $9K (by BRAD 20,000 [IN]) Oct 27, 2021 11:08 PM

Flip Strategy Saves $9K (by JB [OR]) Oct 28, 2021 12:13 AM

Flip Strategy Saves $9K (by Ray-N-Pa [PA]) Oct 28, 2021 7:56 AM

Flip Strategy Saves $9K (by Ray-N-Pa [PA]) Posted on: Oct 27, 2021 10:51 AM
Message:

Last night I went to an auction and really wasn't that excited about the place but it was priced in the end so I picked it up.

This will be a flip

Now with so many other transactions in my pipeline already (this will be number 6), I could use this as part of the replacement properties in a 1031 exchange. Instead of doing that I placed the property in the name of my Roth IRA.

So this isn't a trick question -

How much taxes do you pay on profits made in a Roth IRA?

The answer is - None, taxes are paid with money going into it.

The tax savings on titling it this way will be about $9,000.

Just an idea for those flippers out there. --24.101.xxx.xxx

Flip Strategy Saves $9K (by 6x6 [TN]) Posted on: Oct 27, 2021 12:09 PM
Message:

Doesn't it have to be a SD ROTH IRA? --73.120.xx.xxx

Flip Strategy Saves $9K (by Jasper [OH]) Posted on: Oct 27, 2021 2:02 PM
Message:

Yes, it does have to be a SD Roth IRA managed by an intermediary. --40.133.xxx.xxx

Flip Strategy Saves $9K (by 6x6 [TN]) Posted on: Oct 27, 2021 2:38 PM
Message:

Thank you Jasper --73.120.xx.xxx

Flip Strategy Saves $9K (by BRAD 20,000 [IN]) Posted on: Oct 27, 2021 3:22 PM
Message:

Ray Ray,

Open a SD Roth401K. Easier rules.

But careful, the IRS does not like flips in either account.

BRAD

--73.102.xxx.xxx

Flip Strategy Saves $9K (by Ray-N-Pa [PA]) Posted on: Oct 27, 2021 4:44 PM
Message:

Brad,

I am one of those weirdos that have three accounts: the Roth IRA, the Solo Roth 401 and a HSA. Between Quincy and John, I really should be getting Christmas cards

--24.101.xxx.xxx

Flip Strategy Saves $9K (by BRAD 20,000 [IN]) Posted on: Oct 27, 2021 11:08 PM
Message:

RayRay,

Count me weird with you!

BRAD --73.102.xxx.xxx

Flip Strategy Saves $9K (by JB [OR]) Posted on: Oct 28, 2021 12:13 AM
Message:

Sixth in line? How long will it take you to get to that? Then how long from start to finish? --73.25.xx.xxx

Flip Strategy Saves $9K (by Ray-N-Pa [PA]) Posted on: Oct 28, 2021 7:56 AM
Message:

I have a commercial deal that will close on Monday that has taken about 19 weeks to close. I also have a few 1031's going on so the transactions do get stacked up.

November I'll be closing one weekly at least --24.101.xxx.xxx

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Flip Strategy Saves $9K

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