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SteelerNation 05-02-2020 10:02 AM
Prap question
 
Does anyone know if I can divert dividend income from repurchasing stock to usable income for my family within the Prap account? Trying to come up with possible income streams during this time of uncertainty. Thank you

Chuck D 05-02-2020 10:07 AM
Originally Posted by SteelerNation (Post 3047046)
Does anyone know if I can divert dividend income from repurchasing stock to usable income for my family within the Prap account? Trying to come up with possible income streams during this time of uncertainty. Thank you
The CARES IIRC lets you take out $100k early without penalty (but as taxable income spread over 3 years) and also take out a loan of the same amount (again IIRC) - but not sure about repayment of the loan if furloughed

but pretty certain you can't cash out dividend money

SteelerNation 05-02-2020 12:23 PM
Originally Posted by Chuck D (Post 3047051)
The CARES IIRC lets you take out $100k early without penalty (but as taxable income spread over 3 years) and also take out a loan of the same amount (again IIRC) - but not sure about repayment of the loan if furloughed

but pretty certain you can't cash out dividend money
Thank you for your response

Shrek 05-03-2020 08:42 AM
Originally Posted by Chuck D (Post 3047051)
The CARES IIRC lets you take out $100k early without penalty (but as taxable income spread over 3 years) and also take out a loan of the same amount (again IIRC) - but not sure about repayment of the loan if furloughed

but pretty certain you can't cash out dividend money
And remember it’s 100K TOTAL you can take out (loan or dividend).


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