All Forum Posts by: Wes Aldo

With a Solo 401k having a Traditional component and a Roth component; can the Traditional account loan the Roth account funds for the purchase of real estate?

Example:  $100k in Traditional account & $20k in Roth account.  Can Roth account purchase property for $100k utilizing a loan from the Traditional account?  This way the profits from the real estate sale would be tax free in the Roth account.

Thank you for any feedback.

I flipped 2 properties last year and so far have flipped 2 properties this year in my own individual name. I filed federal income taxes as short term capital gain on Schedule D. I did not issue any 1099's for the contractors that did work on the properties. Is issuing 1099s for workers necessary when only doing a couple rehabs in your own name?

Also, if I start doing more properties then I will probably form an LLC and would like to know what is the penalty for not filing 1099s in that situation as an LLC?

Thanks all in advance.