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Get your taxes done using TurboTax
complying with the plan's requirements regarding a loan would make it non-taxable. as a matter of fact, you should only receive a 1099-R for a 401(k) loan if you violate the plan's or tax code provisions such as borrowing too much or failure to timely repay the loan. if you quit employment it is a deemed distribution and it becomes taxable at your termination. contact the administrator to get this straightened out.
March 15, 2021
10:01 PM