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Self-directed Checkbook IRA LLC Question: I am considering setting up an IRA LLC to invest my Roth IRA funds in real estate. I already have an LLC for my business (which sponsors a Solo 401k). Can I use the same LLC for this IRA and then open a separate checking account?
No. One is not allowed to invest his or her IRA funds into an LLC that is owned by such person (or a related person such as a parent or spouse).
Instead a new LLC would need to be opened into which the Roth IRA funds would be invested.
Learn more: https://www.mysolo401k.net/ira-llc/