All Forum Posts by: Charlie Liu

How about another option.

I am trying to figure out the best option to do this one.

Option 3:  buy land through solo 401k do all the above mentioned farming activities through solo 401 k as well, pay contractors to do these activities?

this is a very informative thread, and I have some more question in reporting.

How about expenses incurred during the year, let's say, the trust (solo 401k)owned some land, and paid a contractor to build a barn on the land, paid 5k.  Does the Solo 401 k need to issue a 1099?

Charlie

Thanks @Dimitriy!

Is it true that you can only do one time rollover from your SEP IRA into Solo 401K one time, whatever assets left in the Sep IRA have to stay there or can you make multiple rollovers?

thanks

charlie

Great, thanks for all the replies.  I will go with a loan from Solo 401K to purchase the land.

Appreciated!!!

charlie

I am in the process of buying some land, I have a Solo 401K that I can use to buy the land.  I plan to hold the land for at least 5 to 10 years.  I also plan to do some light farming on it-a fish pond, raise some cattles, plant some fruit trees and vines.

Option 1.  Buy the land through Solo 401K and lease the land to my farming operation.

Option 2.  Loan money to myself to buy the land.

Which is a better option?  Better in the sense that leasing the land to my farming operation is permissible by the rules of Solo 401K?

Any help will be appreciated!

charlie