How Do I Report Income and Expenses in an IRA?

An IRA-owned property may be rented or leased, as long as the rental income flows back to the IRA. Property that is rented or leased requires a third-party property manager which cannot be the IRA owner. Also, keep in mind that your IRA will need to retain enough uninvested cash to cover all expenses such as property taxes, improvements and even the earnest deposit.