Question

Can we put the profit from the sale of our home in to our 401K? We have owned the home 13 yrs, it's our primary residence and is not used for any type of business.

Forum|Forum|7 years ago
June 4, 2019
1 reply
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Pur plan is to take money from our 401K for the purchase of a new home and replace that money in the 401K when we've sold our current home

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H

Howard1948

Employee

Not directly, but here is what you can do, if your employer's plan allows it:

Borrow the money from your 401(k). You'll have to set up monthly payments of principal and interest to cover the period from when you borrow the money until you sell your old home. Be sure that the loan document allows you to prepay the loan without penalty at any time. Then, repay the loan when you sell the old home.