Property held in IRA's

Connie5
Level 1
Durango, CO

Property held in IRA's

My vacation rental is held in my IRA. I had my first guest. Airbnb made the payout 2 1/2 weeks ago. However the company managing my IRA property (ETC) can not find the payout. 

 

The problem lies in that Airbnb only accepts a routing number and account number. In this case I need to supply a Routing number, an account number and then an additional account number specific to MY ACCOUNT.

 

Airbnb says they are aware of this and they are working on accepting more specific banking information. 

 

Any help would be appreciated. I have opened an account on VRBO where I am managing my own payments, experiencing less hassle and greater response rates.

 

Thank you for any help...

 

1 Reply 1
La-Kesha0
Level 1
Little Rock, AR

I too have my property with ETC and have set up using ETCs acct and routing number.  I have to notify the deposit team that airBnB is sending funds and how much will be coming.   My issue is changing the tax payer info within airBnB on the w9 form.   Since ETC is the custodian and the house is held with them, then the income is tax deferred.  Unfortunately, airBnB doesn’t allow a w-9 to state tax deferred.  They are going to produce a 1099 regardless.  That poses a problem and potential for an IRA audit.  How do you handle this?