So in 2018 I borrowed from my 401K for a first time home purchase. I was separated from my job and started a new one right away, while still owing the 401K loan. Since I didn't have the money to pay it back I thought I would take it as an early distribution until I heard about the law changing. So now in 2019 with my new job, I have a small loan on my 401K.
1. I have filed for an extension until October in order to give my self time to pay back the 2018 loan.
2. If I pay back my current loan to myself on my current 401K does that money count towards my payback of my old one? Or another way of asking this question is: Does paying back a 401k Loan to myself count as a rollover?
Make Sense? any information would be great!
Instead of having 60 days to pay back the loan, you have until the tax due date, including extensions to pay back the loan
See link below
https://ttlc.intuit.com/questions/4579331-can-401k-loan-offset-from-1099-r-having-code-m-allowed-to-rollover-to-another-qualified-plan-even-after-60-days-till-april-2019-i-have-amount-in-box-1-and-box-2/amp
so yes, monies paid back before you file would count as a rollover