Legal Question in Business Law in Florida
My question regards an LLC i have set up. I recently switched my IRA to a self-directed IRA. The IRA invests all of the assets into an LLC i manage. For this IRA LLC type of business entity, should this be classified as a 'Disregarded Entity'? I saw this designation available for LLCs when I was filing to open the new business with the IRS. And it made sense to me that this LLC may be 'Disregarded' as its income is tax free (its all IRA funds) and no business tax return is required to be filed (according to online research).
Asked on 10/10/09, 10:17 am
1 Answer from Attorneys
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