QUESTION: I purchased a home on Maui using my after-tax savings in July of this year. The mortgage will likely be paid off by year-end. Is there a way to swap or sell my house to my solo-401K (http://www.mysolo401k.net/)title so that I can free-up my after-tax capital (e.g. transfer the solo-401K money and title to my 401K to my regular, after-tax account)? Unfortunately, when we opened escrow, I was unaware of the solo-401K idea! So we are after-tax wealth poor, but retirement wealth healthy.
ANSWER: Because as the solo 401k owner you are a disqualified party, the solo 401k cannot purchase real-estate that you own or have ever owned. Visit (http://www.mysolo401k.net/solo-401k/solo-401k-faqs/
) to learn more.
RSS Feed