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Updated over 7 years ago on . Most recent reply

User Stats

35
Posts
17
Votes
Sandra PIrtle
  • Investor
  • Honolulu, HI
17
Votes |
35
Posts

What can Self-Directed IRA funds be used for?

Sandra PIrtle
  • Investor
  • Honolulu, HI
Posted

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.

Most Popular Reply

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Dmitriy Fomichenko
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
6,235
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17,845
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Dmitriy Fomichenko
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
Replied

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.

  • Dmitriy Fomichenko
  • (949) 228-9393
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