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Updated over 4 years ago on . Most recent reply

Spenser Harding's profile image
Spenser Harding's profile image
Spenser Harding
  • Rental Property Investor
  • from Tacoma, WA
  • Member since Apr 24, 2014
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Spenser Harding's profile image
Spenser Harding's profile image
Spenser Harding
  • Rental Property Investor
  • from Tacoma, WA
  • Member since Apr 24, 2014
Connect
Spenser Harding
  • Rental Property Investor
  • Tacoma, WA
35
Votes |
117
Posts
Tax, SDIRAs & Cost Segregation

401(k) COVID withdrawal

Spenser Harding
  • Rental Property Investor
  • Tacoma, WA
Posted

Hey!

Just reading into the COVID w/d available for 401ks out there. 100% of my funds are locked in my employer's 401k plan and I am considering taking a distribution and then immediately make a contribution to a Self-Directed IRA to invest a portion of the funds in R/E. Has anyone else considered doing this? My thought is the distribution and contribution would offset the tax liability and then move the funds to a different eligible IRA account.

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