Activities Permitted with A Checkbook IRA

[Account Closed]

I have just established an LLC for my SDIRA. The purpose is to use this LLC to buy and hold a SFR rental. I intend to manage the property myself. Are there any restrictions against using a credit or debit card with this LLC?

[David Krulac]

@Account Closed

I've been told by a reliable attorney that management of SDIRA property is a prohibited transaction. You can avoid blowing up your IRA by hiring a property manager. There is not a test case on target here, but SDIRA are getting more IRS scrutiny since the least little transgression blows up the IRA and yields more taxes and penalties. Be very careful.