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9 November 2016 | 5 replies
., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
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14 November 2016 | 10 replies
As one of the other investors I'm bummed that I don't have visibility on that data to use with my remaining self managed units, but more power to her!
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9 November 2016 | 11 replies
She called me back 3 days ago and said the deal fell through because the seller did not have P&L and the 3 years taxes she did have a guess did not satisfy the buyer and that i was the first one she let know.
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8 November 2016 | 5 replies
., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
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13 November 2016 | 7 replies
This money will be paid to escrow every month and then will be paid towards the seller's remaining mortgage.
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9 November 2016 | 9 replies
Tell the exiting tenant that until a new tenant comes on or the other tenant moves out, her SD remains in escrow until the lease is resolved.
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23 November 2016 | 40 replies
I am an accountant and if you can remain below the IRS radar I wouldn't worry about self employment taxes for under 5 flips or less!
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10 November 2016 | 10 replies
I would remain active in these forums, set up keyword alerts, and check out local meet-ups.Best of luck to you!
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4 April 2017 | 17 replies
I believe they will do enough to get good press and to satisfy their CRA requirements..
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23 May 2017 | 8 replies
It took them a few years in each of the two cases (so far) and took two different routes. 1) They were then able to control the assessments and restrictions to protect their long term hold.2) They actually started forcing assessments and other restrictions in a way to get the remaining owners to sell.