Every Tuesday & Thursday Live Q&A Webinar – Solo 401k & IRA LLC
October 26 @ 11:00 am – 12:00 pm Pacific Time Zone
Whether you already have a Solo 401k or IRA LLC or are considering setting one up, please join this live open discussion to discuss your questions as well as learn from the questions submitted by other community members.
How can I join a live webinar or watch a recording?
- If you are not a member, please first join the community: Join My Community.
- All Members can access the Live Webinar: Solo 401k/IRA LLC FAQs
How can I post a question?
- Bring your questions to the LIVE webinar
- Post your questions in the comments to this event post.
- Email your questions to Community@mysolo401k.net – please put the word “Question” and your name in the subject line.
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If a solo k owns a property valued at 200k which has an outstanding loan of $100k on it, what is the taxable amount if the property is distributed so it can be used personally ($100k or $200k)? Thanks!
Thank you for your question @Wende
We will review on today’s webinar
I have a time sensitive investment opportunity , for which i will need funds before i can liquidate other investments to free up funds.
From your article, it seems my solo401k plan can get a non recourse loan from a friend with a loan agreement in place.
The loan agreement will explicitly mention no recourse against personal assets.
The loan can be unsecured, or secured against the plan’s financial assets.
I will not be part of the transaction in any way in my personal capacity, only as the plan trustee on behalf of the plan
The plan can pay the loan back in quick order about 2 weeks with reasonable interest as per IRS guidelines, with interest paid from the plan accounts.
Q: Is this doable? Is there a sample non recourse loan agreement that you can point me to? Any other documentation requirements?
I have pretax, aftertax and Roth accounts, and often make comingled investments. Can i open a pooled account as part of my solo401k accounts, to be able to stage funds going out as well as when they come in from investments (e.g. dividends)? The funds can land in the pooled account and then be split in the proper ratio between pretax/aftertax/roth
Thank you for posting your question – we discussed on today’s webinar. Let me know if you have any follow up questions.
For Solo 401K, if there is no IRA reporting requirement under $250,000, how does IRA track those pre-tax contributions ? Suppose I claimed pre-tax contribution as employee and employer, how does IRA know and track those contributions are really committed to the accounts ? There is form 5498 each year for IRA, but no form for Solo 401K ?
Thank you for posting your question – we discussed on today’s webinar. Let me know if you have any follow up questions.