Anyone sell RE to stepchild & the SDRIRA buys it from stepchild?

[Gebson Pinheiro]

I'm thinking about selling a property I currently own to my adult stepchild (would trust with my life). I am planning to quitdeed claim the property to the stepchild (gift the stepchild closing costs needed to buy it from me), then my Self-Directed Roth IRA LLC checkbook account would immediately buy it back from the stepchild. Has anyone taken this (legal) route? How did it work out? Did the IRS not blink an eye?

[Brian Eastman]

@Gebson Pinheiro

This would be viewed as a self-dealing transaction between the IRA and yourself. Putting another person between you and the IRA does not change that fact.