Re: Where is the tax liability? Borrow 401K to fund Roth IRA.
STG,
One other thought, if you are trying to simply shift $$ from a limited option 401K to an IRA to gain the benefit of more investment options... you should be able to rollover your 401K into a Traditional IRA, without incuring any penalties.
Your reasoning on doing this, is still not clear, so not sure if this helps you or not.
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