All Forum Posts by: Lisa Gerard

@Mark NolanThat's correct, I did not invest my IRA in an LLC of which my IRA is the only member. It can be so confusing to navigate, especially the self-directed IRA - and I'm not even doing the checkbook self-directed IRA!

@Julian BuickI signed it.  May not have been the right thing, but I did.

Also, I should clarify my previous comment about the due date for 1099s.  They must be issued to vendors by end of January, reported to the IRS end of February.

@Account Closed

My understanding is that 1099s are due at the end of February and that they do not have to be issued to corporations.

FYI

I was advised by the Trust Co. (which is my SDIRA custodian) to use their name, address and tax ID number on the W9. So it is worded as follows: "SW Trust FBO Lisa Gerard IRA".

@Brian Eastman

@Adam Hershman

Wow, thanks for the quick responses.  I'll be talking to the custodian and the co. funds are invested in to get this all cleared up.  I want to make sure the IRS is happy!

Thanks again.

Through my SDIRA I've invested with a company that now is asking me to fill out a W9 form and will presumably then send me a 1099 for the earnings last year.  I'm not sure if I should fill it out with my name and social security number or "SDIRA for Lisa Gerard" and social or if it should be made out to the custodian.  Anyone out there now the nuances of this stuff? 

@Jerry Padilla

Hi Jerry,

Sorry I may not have been entirely clear on that note.  We are the holding the note.  We owned the property free and clear and sold it with seller financing.  So, we are earning that 7% interest.  The buyer may want to refinance, but we're happy!

@Steve Vaughan I will carry on as I have been and at the same time learn about other options that may not require as much cash up front.  I appreciate the book recommendations.  Thank you.

@Steve VaughanHi Steve.  Yes, it's always made more sense to me to put excess money into something that will throw off more money and hopefully appreciate too.  I certainly don't need more stuff!  We haven't gotten to the point of freedom yet, but we're working toward that goal.  Sounds like you have reached that point.  Did you do something creative to accomplish this or just plugging away with the saving then buying when you can?

@Michele FischerYes!  Reuben just turned 90 this month.  I know many people around Longview know him and have memories of events up there at the mansion.  I too hope someone will buy the place and restore it.  If I was at all interested in the hospitality industry I would have tried to do so.