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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] buying rentals using self directed ira Posted by the_saint on May 31, 2009 at 4:57 PM a couple of questions, r/e pros, before i start or open my own sdira. i can't bear opening my 401K monthly statement so i decided this might be the way to go since i already have rentals outside of california. thank you very much for all the info you can share. 1. if my sdira is paying cash for a rental, i can't claim the depreciation expense on my income tax returns, right? if not, who claims it then. 2. if my sdira is $100k, up to how much am i allowed to use for purchase and closing costs? are reserves required by the irs even if i'm buying cash? 3. can i make monthly contributions to the sdira just like one does with one's 401K. 4. am i allowed to put the property my sdira owns in a trust where I'm the trustor and the sdira is the beneficiary? or does it even make sense to do that? thanks again for helping out a newbie... Follow Ups: Re: buying rentals using self directed ira AquariusDawnCA 6:04 PM, 05/31/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : a couple of questions, r/e pros, before i start or open my : own sdira. i can't bear opening my 401K monthly statement so i : decided this might be the way to go since i already have : rentals outside of california. thank you very much for all the : info you can share. : 1. if my sdira is paying cash for a rental, i can't claim the : depreciation expense on my income tax returns, right? if : not, who claims it then. : 2. if my sdira is $100k, up to how much am i allowed to : use for purchase and closing costs? are reserves required by the : irs even if i'm buying cash? : 3. can i make monthly contributions to the sdira just like : one does with one's 401K. : 4. am i allowed to put the property my sdira owns in a trust : where I'm the trustor and the sdira is the beneficiary? or : does it even make sense to do that? : thanks again for helping out a newbie... [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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