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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Self Directed IRA and Flipping... Capital Gain??? Posted by jmac on November 07, 2009 at 1:32 PM In Reply to: Re: Self Directed IRA and Flipping... Capital Gain??? posted by Richard on November 06, 2009 at 1:14 PM Richard Says: "If your IRA buys a gas station and earns its income from the sale of gasoline, potato chips and cigarettes, this income is clearly business income – you were selling (or exchanging) products. (Such an investment would be impractical as well because if your IRA owned the asset you would be barred from working for or managing that store personally or even shopping there!)" Richard, are you a CPA? Can you referrence the IRS Pub where you got this info? I'm not sure I buy this argument. Does this mean that if you buy 100 shares of Exxon in your IRA, you cant buy gas there? Or is that because you own shares rather than the actual real estate. As it pertains to flipping, might UBIT be avoided by buying real estate in a Private Placement Corp/LLC/LP, of which your IRA owns shares, rather than the Real Estate directly. Comments? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Richard Says: : "If your IRA buys a gas station and earns its income from the sale of gasoline, potato chips and cigarettes, this income is clearly business income – you were selling (or exchanging) products. (Such an investment would be impractical as well because if your IRA owned the asset you would be barred from working for or managing that store personally or even shopping there!)" : Richard, are you a CPA? Can you referrence the IRS Pub where you got this info? : I'm not sure I buy this argument. Does this mean that if you buy 100 shares of Exxon in your IRA, you cant buy gas there? Or is that because you own shares rather than the actual real estate. : As it pertains to flipping, might UBIT be avoided by buying real estate in a Private Placement Corp/LLC/LP, of which your IRA owns shares, rather than the Real Estate directly. : Comments? [ 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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