IRA withdrawal to fund investment properties, can a cost seg help to reduce tax bill?

[James Sedano]

Hi all,

As titled.. I did a IRA withdrawal of 300k to buy 2 condos in May/June 2024.

I didn’t paid the 10% penalty fee. 

I’m not currently working so my income is basically the 300k + (28k gross or 15k net) from another rental property. 

can I do a cost segregation to offset my tax bill incurring from the Ira withdrawal for 2024? 

I heard that you need to be a realtor, but also heard that since I don’t have w2 job and only doing real estate investing then I can do the cost segregation. 

Appreciate your help answering this!