William Bauman
Newbies just getting by, looking for seasoned REI advice
14 June 2018 | 6 replies
Rollover the $100,000 in the 401K into a regular IRA and cash out.
Patrick Hall
Self Directed 401K Taxation of Rental Income
12 November 2019 | 27 replies
(of course, it can also be invested in mutual funds and other liquid securities).When moving funds from your prior employer 401k, ensure that it is does as direct rollover "trustee-to-trustee," to avoid any tax issues.Once it's in your Solo 401k Plan, you'll be able to pursue most investments with all the tax advantages that you expect from a 401k plan.Some investments that are available in Self-Directed Solo 401k may result in taxable income to the 401k, not to you personally.
Adrian N.
Self directed IRA question from a newb.
17 June 2018 | 4 replies
Please consult with your advisors.There are no taxes incurred for a rollover from a conventional (i.e. pre-tax) 401k to a conventional IRA.There are no taxes incurred for a rollover from a ROTH 401k to a ROTH IRA.You will receive a 1099 from the sending custodian that should list $0 in box 2a, taxable amount.Different story if you are trying to get from a conventional 401k to a ROTH IRA.
Michael Klinger
Business Banking Cincinnati
22 July 2018 | 8 replies
Not sure if that's standard or due to my type of account with them (Private Client...I have 3 IRA's, a solo-401k, and Rollover 401k so total with them bumps me up into their Private Client level banking).Their interest is non-existent (I use Ally.com for holding money @ 1.65%) but I've never had a problem with them.
Brian Keeler
Commercial Mortgage Assumption
20 June 2018 | 5 replies
They could also add structure to the loan, but given this is a MF asset, there likely isn’t anything to structure around (major tenant rollover, capital improvements, etc.)Let me know if you have any other questions I might be able to help with.
Claudia Beals
Rollover to a solo 401K plan
21 June 2018 | 3 replies
I have a old Roth 401K plan that I would like to rollover into a Solo 401K plan.
Robert Naucke Jr
how is your solo401k bank account setup for purchases
27 June 2018 | 0 replies
When setting up our Solo401k, I read I needed to keep all monies separate, My rollovers, My wife's Rollovers, My contributions, etc.So I currently have two accounts, My rollovers ($92,xxx) and my wife's rollovers ($2,7xxx).My question is, do I now need a third account for doing the actual purchases?
Account Closed
Low cost self-directed IRA (single transaction)
6 July 2018 | 6 replies
I'm looking to rollover my 401k into a self-directed IRA for the purpose of investing in a note.
Chris Keator
Self Directing IRA to pay for rehab costs
16 September 2018 | 5 replies
Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(mThe Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability companyThe Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2018, the solo 401k contribution limit is $55,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
Anthony Petrarca
First post and Apartment loan question.
12 September 2018 | 1 reply
More if there is capex planned or for some reason you're expecting higher than normal rollover / leasing costs.