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Updated over 5 years ago on . Most recent reply

User Stats

15
Posts
8
Votes
Dawna Willis
  • Memphis, TN
8
Votes |
15
Posts

Borrowing against my solo 401K

Dawna Willis
  • Memphis, TN
Posted

My spouse and I set up solo 401K trust accounts at a brokerage firm that also provided me with a check book and a debit card for my individual account. I rolled over part of one my non-Roth IRA accounts so I could borrow 50% of it to fund more real estate deals. Is it recommended or required to get a separate account for the participant loan amount to assist with better record keeping? My intent was to use it as needed for rehabbing two tax lien properties and then once properties were sold, replace funds and repay loan off early.

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