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What can Self-Directed IRA funds be used for?
I have a self directed IRA. The LLC under the IRA owns two rental properties. I am listed as the manager of the LLC, from the rental cashflow. I was wondering if I can pay myself for managing the LLC? I will not turn 59.5. until spring.
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Dmitriy Fomichenko
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Dmitriy Fomichenko
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Sandra, as disqualified person to your IRA you are not allowed to receive any personal benefit directly or indirectly from the IRA. The only possible way for you to benefit as Brian mentioned is to take distributions from your account.