Posted by John K. Haslach, CPA, MST on February 07, 2005 at 08:56:25:
If you do not, the IRS will look for it on your personal 1040.
Does Roth IRA LLC have to file a return? - Posted by Edgar
Posted by Edgar on February 04, 2005 at 11:32:35:
My wife and I invested our self-directed Roth IRA funds into a Michigan LLC, which bought and sold a small office building last year. The Roths are administered by Equity Trust. The LLC is managed by my attorney. No one seems to know for sure how the gain should be treated. Bottom line: Does the L:LC have to file a return?
Re: Does Roth IRA LLC have to file a return? - Posted by Jerry Johnson
Posted by Jerry Johnson on April 09, 2005 at 14:46:24:
I don’t have the answer to you question but I am looking at purchasing some property with an IRA LLC.
Did you purchase the office building with all cash or did you get a non-recourse loan? I would be interested to talk to you about this as I have been having a difficult time finding someone who has actually purchased a piece of property with a retirement account LLC.
If you could give me your phone number and a good time to call you I would really appreciate it.
Jerry
Re: Does Roth IRA LLC have to file a return? - Posted by John K Haslach, CPA, MST
Posted by John K Haslach, CPA, MST on February 06, 2005 at 11:27:47:
If you had debt on the property, the IRA may be subject to filing a tax on it’s Unrelated Business Taxable Income. For the IRS Publication see: http://www.irs.gov/pub/irs-pdf/p598.pdf
Re: Does Roth IRA LLC have to file a return? - Posted by daveh
Posted by daveh on February 07, 2005 at 07:28:16:
Along the same vein, I have a rental house owned by my self directed IRA. My management company issued a 1099 Misc against my personal SSN for the rental income last year. Should I have them re-issue the 1099 against Equity Trust Co’s EIN?