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Multiple Solo 401k Loans – How many times can I take a $50,000 Solo 401k loan?
QUESTION:
I understand that I can take out a loan from my Solo 401k up to $50,000 since the value of my Solo 401k is at least $100,000. Is there a limit to how many times I can take a minimum of $50,000 loan?
RESPONSE:
Under the multiple loan rules, the sum of the balances of the outstanding Solo 401k loans (using the highest outstanding balance of each loan over the last 12 months) can’t exceed 50% or $50,000 whichever is less.
