Self Managed IRA and mineral rights
I own land with minerals that are unleased and also own mineral rights on additional land. These properties are debt free and the only expenses are the property tax on the land. I have considered selling these assets to my self managed IRA to defer taxes. I could reinvest the royalties and allow these assets to grow more quickly than paying state and federal income tax.
Good or Bad Idea? Just throwing out an idea for comment before meeting with my CPA.
Good or Bad Idea? Just throwing out an idea for comment before meeting with my CPA.
Views: 309
Replies to This Discussion
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Permalink Reply by HMI on
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You're very welcome Keb. Let me know where else I can help. This is actually the field I'm in professionally. Always happy to shed light where I can.
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Permalink Reply by intrepid on
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So? What was the final word from your CPA on this deal? Can you update us please?
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