QUESTIONS: Let me know if I can use margin money ( to borrow money
from TD Ameritrade , my broker) to buy Stocks, mutual funds, real estate
etc.
I think I may have to file
appropriate forms with IRS for UBIT in case of investing in business. What
about Stocks, mutual funds? Are the
above rules for Roth Solo 401k also?
ANSWERS: UBIT
applies to Roth and pretax funds in a solo 401k when trading on margin.
Yes a debit card may be issued to
the 401k (in the name of the 401k). However, a credit card may not be obtained.
The debit card is popular for easily paying real estate expenses in connection with
the solo 401k owned property.
Lastly, the debit card may not be used to pay personal expenses or
business expenses.
Thanks Robert in Orlando, FL
No comments:
Post a Comment