I am a hard money lender and need advise if an unsecured loan I made through the Solo 401k defaults and is uncollectible are there tax write-offs as a result of the uncollected loan?
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
1y
No, it would be a total loss. Account holders can't take any write-offs personally for investments made in the 401k. Doing an unsecured loan is a horrible idea.