I'm looking to open an online account with vanguard, TD Ameritrade, E*Trade, or maybe even the Robinhood ap with my checkbook sdira to buy REITS. I believe that I have to open the account in the name of my LLC, but do I have open up a retirement account with them too for tax purposes? Or what type of account would I need to open to keep it in my retirement account? I want to be careful with this and not disqualify my IRA and subject the entire account to taxes.
Absolutely need to ask the SDIRA custodian to be sure. I wouldn't do anything without asking them first because of your well-guided fear of disqualification.
If you have Checkbook IRA, that means that you have a custodial self-directed IRA which made investment into single member LLC of which you are the manager and your IRA is the member.
If you wish to open brokerage account for your Checkbook IRA you must open account in the name of the LLC, using LLC's EIN, you as the manager will be signor on the account and will have full control over it.
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