@Simon ChanYou can look into doing a "Roth Conversion"This will convert the amount from a traditional IRA to a Roth IRA.Whether the conversion is taxable or not depends on how much basis you have in the traditional IRA.You have basis for traditional IRA contributions if you were not eligible to take a deduction in year of contribution.Talking to an accountant can walk you through the process and tell you how much of it will be taxable and tax impact.

They compare contribution amounts, which are not equivalent from the investors standpoint because one is pre-tax and the other is not. 

This way I can track contributions to each venture independently.The resoning comes together at tax time, just imagine someone handing you one box full of transactions committed by 7 people compared to 7 boxes containing the transactions of of all 7 people separated. 

However, If you are also a participant of your employer-provided retirement plan, then there is an AGI limitation beyond which you cannot deduct the contribution to IRA.

@Daniel DietzIn the scenario you provided, the member leaving the LLC will calculate gain/loss on the disposition of the LLC interest.Gain/Loss is calculated as sales price less adjusted basis and adjusted basis is original contribution + contributions - distributions +/- income earned through partnership.There may be a way for that partner to avoid paying tax if instead of being brought up, the partnership liquidates some assets to that member.

I would love to meet up with investors such as yourselves to learn and offer any help I can contribute.

Thank you all for contributing, your responses help me to continue in this business.  

Smart move and being on here and learning and contributing is even.

I hope to learn a lot from this forum and I look forward to when I am able to contribute to it myself in the future!

From what I understand, an LLC would have to be formed and the money would have to be a capital contribution.