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Updated about 10 years ago on . presented by

User Stats

4
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1
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Tom Hargis
  • Louisville, KY
1
Votes |
4
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Investing ESOP diversification funds

Tom Hargis
  • Louisville, KY
Posted

I have an ESOP (employee stock ownership plan) diversification option of about $68K available. I would like to use it to pay down the mortgage or couple it with other funds to pay off the mortgage on a single family rental. If I take a check for the entire amount, 20% with be taken out for Federal Tax. My question is - is there a "direct roll over qualified plan" I can use to avoid the tax and apply the entire $68K toward the rental property?

I can apply it to a property from my LLC or a property in my personal name.

Thanks for any input.