Self Directed IRA in an LLC
I am a little confused. I have a client who set-up a SDIRA with Pensco Trust. He had an Attorney set-up a single member LLC, with the IRA being the sole member. I know when the sole member is an individual, it is considered a disregarded entity for federal income tax purposes, and is required to file the LLC on Schedule C of the personal 1040. In this case, I am not sure what type of tax return would be filed.
Permalink Submitted by Dave Owens on Sun, 2012-03-11 15:24
It is a single member LLC, the IRA is not required to file a tax return. The IRA owner will want to keep good records for the Single Member IRA. Any gains or income from the LLC must flow back to the Self Directed IRA that is the member.
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