21 January 2020 | 7 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Alternative: Rollover Funds to A Solo 401k & Take a 401k loan or Invest in Real Estate DirectlyIf you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.
21 January 2020 | 8 replies
Therefore, you should be able to rollover from 401k to an IRA the amount you need.
24 January 2020 | 0 replies
However, since we held the property for an extended period of time and the money invested into it was all cash, we were able to roll over $70,000 into the next project.
28 January 2020 | 5 replies
Can I move funds to the SDIRA , ad hoc, as I need them or is there some cost or prohibition on too many of those rollover transactions?
26 February 2020 | 4 replies
Please see additional considerations below.If you are eligible to set up a self-employed Solo 401k (or have a 401k plan through an employer which accepts rollover contributions and allows for 401k participant loans), another alternative which would avoid taxes and penalties would be to transfer your funds to such a 401k plan and then take a 401k participant loan.
7 March 2020 | 3 replies
Can you rollover a sep IRA into self directed?
3 March 2020 | 2 replies
(This is where someone would chime in if I have this wrong.)My question is: Can I roll over my existing Roth Solo 401k into a Self-directed Roth Solo 401k?
6 March 2020 | 3 replies
I'm looking for information about whether you can rollover funds in a TSP into a QRP, while still working.
13 March 2020 | 1 reply
Currently dealing with a bank for a new mortgage (trying to roll over $11,000 losses from repairs, ect)The property cash flows at $400/mo, but I rolled over all my losses, taxes says 0 gain, 0 loss, but I rolled over all the extra 'losses' until next year.Mortgage is trying to tell me that I am losing $800/mo on the property and being a pain in the *** for approving my new loan.I know the freddy and fannie verbiage says something like after one year only the net gain and net loss can be calculated.
14 March 2020 | 13 replies
I’ve been looking into different entity types for ownership of the business and since I will be leaving my w2 job (hopefully) later this year and will have a 401k rollover to do and was planning on a self directed ira that I plan on having invest in the contracting company.