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Solo 401k/SD IRA distribution question
My wife and I had an LLC created by using a Solo 401k(55% from my retirement account) and a SD IRA(45% from my wife's retirement account). I am the managing director. Now that I am 59 1/2, would I be allowed to withdraw 100% of the monthly distributions(combination of rental income and investment in our church) or would I only be allowed my 55% portion(my wife is 53 years old)?
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Dmitriy Fomichenko
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Dmitriy Fomichenko
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The distributions from the LLC must be done for both members based on ownership %.
Are you involved in the church in any other way besides just attending it?