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California CPA
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Practical tax tips: pension plans, "trading" partnerships, reviewing tax forms and more.
Publication:
California CPA
Publication Date: 01-SEP-03 |
Format: Online
Delivery: Immediate Online Access |
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Full Article Title: Practical tax tips: pension plans, "trading" partnerships, reviewing tax forms and more.(California tax) |
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Article Excerpt
Which Keogh/IRA/Pension Plan Custodians Will Handle Real Estate investments?
Although it doesn't come up very often, clients sometimes will want to invest their retirement funds in trust deeds or realty ownership. Most banks, stock brokerage firms or mutual funds, however, won't handle such situations.
A potential tax pitfall in realty ownership by an IRA or qualified plan is that it must be free of indebtedness. If there is a mortgage, then the IRA or qualified plan will have to pay unrelated business income tax (UBIT).
Several TaxTalk listserve participants offered names of custodians that will handle such investments, and shortly thereafter, similar information appeared in the July 23 edition of The Wall Street Journal.
The WSJ article listed the following custodians: Lincoln Trust of Denver; Pensco Inc. of San...
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