I need help with the issue of real estate in a profit sharing plan. I have a profit sharing plan and the only remaining asset in it is a property worth about $1.3m. I am 78 and am required to take RMD every year, however there is no more cash left in the plan, just the property. I don't want to have to sell the property if I can avoid it. Other than putting an equal amount of cash back into the plan to replace the property, is there any other way I can take the property out of the plan without incurring a heavy tax penalty? Can it be divided up into "slices" and then use that for the RMD? How does that work? Ideally however I would like to take the property out of the plan with as little tax burden as possible. Thank you.
