QUESTION:
Before I make the
decision on the Roth solo 401k in-plan conversion, I have a few more questions, so bear with me.
Are the rules the same in regards to use of the property? Since I will be
paying the taxes on the total amount of the property value, does that remove
the restriction on usage of the property? The last question I have is related
to the deed of the property, do I have to change the designation of ownership
to record the Roth Solo 401K as the new owner.
ANSWER: No you cannot use the property because it will still be
owned by the solo 401k. Yes it is best that the deed is recorded to show that
the Roth now owns the property, so title should reflect as follows if the Roth
owns the entire property.
Solo 401k
name (ROTH)
Additional Information
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