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Updated 12 months ago,
LLC whose only member is my SDIRA buying a property Subject-to - triggering UBIT
Hey All,
I have reached to my accountant about this but thought I would ask here to see if anyone has done something similar.
An LLC of which I am the manager, and my SDIRA is the only member, is in the process of acquiring a property subject-to. Does the underlying mortgage debt, which I will be paying in an ongoing manner, qualify as a non-recourse loan and thus trigger UBIT? Does this make sense?
Thanks,
Bob