Office equipment for Solo 401k
Can I purchase office equipment, such as a scanner, with my Solo 401k bank account? This would be used exclusively for the properties that I will purchase with the Solo 401k and not for any other personal purposes.
No, we would strongly urge against doing so.
While your intention may be to use this exclusively for your Solo 401k, the office equipment would be located in your home, making it likely that you or someone else in your household would use it for personal benefit, without even meaning to or without you knowing. This would create a prohibited transaction.