Not necessarily on your 1040 but you may have to fill out a tax return for your IRA, Form 990T. I suggest you read the IRS 990T instructions. The IRS gives the IRAs exemption for owning real estate as an investment, but your real estate may instead be classified as inventory in a business because you flip it. Questions like how many houses constitute a business, how to establish intent to own real estate and what time frame for holding property appropriate to avoid having it classified as inventory is best discussed with your professional tax advisors and we would be happy to assist you in any way. If you are at the top of IRS tax bracket these concerns are most likely moot. If you don’t need the additional income to live on then it probably makes sense as a rule of thumb.