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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- self-directed IRA on Form IL-1065 replacement tax avoidance
self-directed IRA on Form IL-1065 replacement tax avoidance
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ryan4
Level 1
09-08-2021
09:28 AM
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How do I avoid the replacement tax calculation on IL-1065 when both partners are IRA's? This partnership is a pair of self-directed IRA's that flip real estate. There shouldn't be any tax due from operations but I cannot find how to get rid of the replacement tax calculation.
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