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Updated over 2 years ago on . Most recent reply

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Dan Kennerson
  • Rental Property Investor
  • Sacramento, CA
11
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51
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Checkbook IRA LLC question

Dan Kennerson
  • Rental Property Investor
  • Sacramento, CA
Posted

Within a Checkbook IRA LLC, Could I loan the LLC money if I treated it as any other loan? Or is this against the prohibited transactions rules?

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Brian Eastman
  • Self Directed IRA & 401k Advisor
  • Wenatchee, WA
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Brian Eastman
  • Self Directed IRA & 401k Advisor
  • Wenatchee, WA
Replied

An intermediary would be viewed as a "straw man" by the IRS and they would look right through that in the event of an audit. They would still see the connection between you and your IRA, and call that a prohibited transaction.

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