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26 October 2020 | 19 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
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20 October 2020 | 4 replies
But here's the deal, if you and your husband file a joint tax return then for IRS federal 1031 purposes you are both the owner also regardless of who's name is on the deed.
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15 October 2020 | 4 replies
It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files 8.Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsGood luck investing.
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16 October 2020 | 3 replies
File jointly.
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24 October 2020 | 13 replies
You may need to file a report of fraud with the local police department.
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16 October 2020 | 1 reply
The more claims you file the more it impacts your score.
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28 July 2021 | 95 replies
Let’s just say covid wasn’t “a thing” but we decided to take 8 months off from filing evictions and having to pay rent.
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18 October 2020 | 3 replies
I looked on the County site and it has a ladybird Deed to his girlfriend in March of 2020 on file and no new deed was recorded when father gave the title to the son.
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17 October 2020 | 1 reply
However I started a new job six months ago that is salary based and this coming year I will be filing my second year of tax returns.
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20 October 2020 | 6 replies
Since then we have filed appraisals on each property with my carrier.