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Self Directed Ira

Self Directed IraIs a self-directed IRA that invested in a salary LLC medical insurance premiums for members LLC?

I have an IRA of self-control with checkbook. My only investment is a Real Estate LLC, which invests in real estate. There are two members of the LLC. Then the IRA to pay their monthly premiums for medical because it is an expense for the LLC? Thank you.

No.

It is not really important that your self-directed IRA with checkboook control. Nor does it is that the investment is real estate, LLC.

The purpose of an IRA is to provide a vehicle for tax deferred the creation of a pension fund. If you are 59 1 / 2 years, you can take a distribution from your IRA to pay for any expenses you deem necessary, however you will pay tax on distribution. If you are not 59 1 / 2 you must pay a penalty of 10% and the tax on income.

Maybe you confuse an IRA with an HSA.

Posted on April 17, 2011.
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