Bill,
I almost envy you...
I took a loan out of my 401K to pay for Sunset Seeker. Was a win-win situation: By staying minimum of 14 nights on boat (we did that many times over), I could take the interest on the loan as a "2nd home" mortgage interest deduction on taxes. AND I was paying myself back the laon with interest, tax deferred. Great situation... until...
... I had to leave my job (loss of hours) and went to work for another company. That company doesn't take a 401K with loan attached rollover. So I have to take the outstanding loan amount as an early withdrawal and will take a tax hit for several thou $ of inferred income.
Only good thing... I'm over 59 1/2 so there's no early withdrawal penalty (10%).
Bill
Bill Cassedy
Sunset Seeker
32' SB
318 Cu In Chryslers
1.5 Velvet Drive trannies
Freshwater always