Real Estate Investor · Baltimore, MD · Member since 2008 · 1k+ posts · 268 votes
I get different interpretations whether it's allowed for an IRA owner to pay custodian, processing, LLC setup fees and other fees incurred by the SD IRA or LLC IRA.
Can someone set the record straight and advise if it's allowed?
Thanks
Louisville, CO · Member since 2011 · 13 posts · 11 votes
14y
The IRS allows the payment of IRA administrative expenses and fees for the IRA itself. But not fees related to assets owned by the plan, such as LLC set up, real estate taxes. Any fees incurred by an LLC or other asset owned by the plan are expenses of that asset and or the owner, the IRA. Not the individual beneficial owner of the IRA.