All Forum Posts by: Sylvana Strawn

Yes, please send some options. Like I said a California-based CPA might be my best bet

I am not sure of the definitions here. I think my checkbook control SDIRA is the grantor of a trust The funds are in a bank that sells this product. I was told (by the company that left me high and dry after I paid them to set this up), that this configuration of a checkbook IRA needs to file a 1041 annually for the trust. Searching for anyone who knows how to do this. The IRS form of course has no option for non-taxable income. I know another way to get checkbook control is with an LLC, but I thought this would save me the annual LLC filing fees. Now I'm sure having this tax form done correctly is a big sticking point. I"m told Californians do their checkbook control SDIRA's this way because LLC's are taxed heavily.

Unfortunately it's an IRA not a solo 401k. I don't have a custodian either, so I am responsible for filing the 1041. A florida CPA said he would do it but it's been months and nothing.

I have a self directed IRA held in a Florida Trust, which needs a Federal tax form 1041 filed. I can't figure out how to show on this form that it is tax exempt since it is an IRA. Does anyone know a tax accountant I could hire to do this? My IRA isn't in an LLC, it's in a trust, and I can't find anyone who knows how to file this. Thank you in advance!

Just don't buy it: the rent is less than the monthly expense.