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Updated almost 8 years ago on . Most recent reply

Chris Melear's profile image
Chris Melear's profile image
Chris Melear
  • Wholesaler
  • from Louisville, KY
  • Member since Oct 8, 2015
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Chris Melear's profile image
Chris Melear's profile image
Chris Melear
  • Wholesaler
  • from Louisville, KY
  • Member since Oct 8, 2015
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Chris Melear
  • Wholesaler
  • Louisville, KY
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Tax, SDIRAs & Cost Segregation

Contributions to my Roth IRA with profit from flips?If unemployed

Chris Melear
  • Wholesaler
  • Louisville, KY
Posted

I'm currently unemployed and have an open Roth IRA. I have just rehabbed and flipped my first deal. I wanted to know if Im able to make contributions (monthly when I was employed) to the IRA since I'll eventually be paying taxes on the profit. Also, how would I need to pay taxes on my profit in order to since I dont plan to open a company for myself. I only plan to rehab 3 to 4 a year.

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