Loans and accounts
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Petrock
Member ✭
When you first set up an investment or retirement account, it asks if you want to track loans against the account. Is it possible to change that to "yes" after the account has been set up and in use? in other words, I now have a loan against an account balance that only requires interest payments monthly and am trying to figure out how to track that effectively.
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Best Answer
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When you first set up an investment or retirement account, it asks if you want to track loans against the account.I believe that question only appears for 401k accounts (possibly IRAs). It does not appear when creating regular investment accounts.
I do not know of a way to change the answer for 401k accounts after a 'No' is initially provided.
I don't know how the loan is handled in a 401k account. For other accounts, I'd think you would have to get a little creative.1
Answers
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When you first set up an investment or retirement account, it asks if you want to track loans against the account.I believe that question only appears for 401k accounts (possibly IRAs). It does not appear when creating regular investment accounts.
I do not know of a way to change the answer for 401k accounts after a 'No' is initially provided.
I don't know how the loan is handled in a 401k account. For other accounts, I'd think you would have to get a little creative.1 -
Makes sense. Thank you0