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Updated over 7 years ago,
Real estate deductions inside solo 401k or self directed IRA
Hello. I'm looking for some direction regarding specific real-estate deductions while working inside a solo 401k or self directed IRA LLC and working with a rehab on a buy and hold piece of property. I plan on speaking directly to a tax professional, but am looking for some general information so I'm smart before talking to a professional.
I have an LLC which I use for property I have outside of my 401k, and I utilize appropriate deductions (mileage, associated expenses, etc). How does this work when using a solo 401k or self-directed IRA? Do the expenses essentially become contributions to the IRA? Suggestions and thoughts appreciated.