401(k) COVID withdrawal

[Spenser Harding]

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.