Solo 401k Real Estate FAQ – Can I do a 1031 exchange with my Solo 401k real estate property?
Solo 401k Loan FAQ – How much can I borrow from both Pre tax & Roth Solo 401k accounts?
While federal taxes apply to pre tax distributions from self-directed solo 401k plans as well as self-directed IRAs but not to both self-directed Roth solo 401k and self-directed Roth IRAs if the distributions are considered qualified distributions, state taxes may not apply. The following states either don’t tax IRA or solo 401k distributions at all […]
Question: I have several stock investments in my solo 401k plan that have not panned out well. If I sell these stocks can I treat it as a loss? ANSWER: In short, no. A retirement plan including a self-directed solo 401k is a tax sheltered account; meaning, it receives tax sheltered status until distributions commence. […]
Self-directed 401k FAQ – Are solo 401k setup fees tax deductible?
Self-Directed Solo 401k FAQ: How do I rollover Roth funds in a former employer plan to my solo 401k?
QUESTION: Are Roth solo 401k plans subejct to RMDs? ANSWER: In short, no. Starting in 204 Section 325 of the SECURE Act 2.0 states that required minimum distributions (RMDs) will no longer apply to the Roth portion of the 401k including a solo 401k. This new rule is welcomed by Roth 401k holders including Roth solo 401k holders […]
Solo 401k Contributions FAQ – Do I report my solo 401k contributions on Schedule C (1040)?
Solo 401k Daily FAQ – How to calculate self-employment income for a sole proprietor?
Self-directed 401k FAQ – How do I title investment made with both Pre tax & Roth Solo 401k funds?