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Quicken Classic for Mac
Investing (Mac)
Real Estate Purchase in Self Directed IRA
shawn murphy
How would one enter a real estate transaction in a self directed IRA? Thanks
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Tom Young
I assume you have your IRA set up in Quicken as an "Investment" Account of some sort.
If that's the case then I'd simply create a "security" with no ticker symbol called "House" or "Real Estate" or something and buy one "share" of this security at whatever that property costs. The "quote" for the security could be changed from time to time as the market value of the property fluctuated.
NotACPA
Why not simply set it up as a HOUSE type account ... and mark it "Tax Deferred"?
Tom Young
NotACPA
said:
Why not simply set it up as a HOUSE type account ... and mark it "Tax Deferred"?
You can do that, too. I think the use of a "security" simply provides the opportunity to easily change the market value of the house to show unrealized gain or loss.
shawn murphy
Thanks for the advice. I went with Tom's so I can adjust value.
NotACPA
Zillow, available in the higher level Q products, and also "adjust value" as can adding a dollar amount to the "House" account that used the name of the House account as the category. This will increase value of the account without using an income or expense category.
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