I have a 401K loan from a previous employer. The loan is considered a qualified loan offset as I left my company in 2025. The 1099R I received from my previous 401K shows code 1M and it shows the remaining loan amount and taxable amount (same as remaining loan amount). I could not pay off the loan in the 90 days required. So I've been saving money to roll in to an IRA so I can avoid taxation and penalty. Now that I have the loan amount can I roll it in to an IRA before April 15th 2026 to avoid taxes/penalties? How do I show this on my W4 as the amount is being put in an IRA in 2026. I'm slightly confused on the information out there, some say I had 60 days but others say since its a qualified loan offset I have until tax deadline of the following year (meaning 2026).
