Do I need 1099 if I withdrew money from it but am currently paying it back? I’ve stayed with the company

rphill1110 · ‎June 3, 2019

I still workforcsame company. I’m basically paying myself back

Vanessa · ‎June 3, 2019

If you took a loan out from your retirement fund but are current with repayment then you do not need a 1099. This is not taxable.

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Carl · ‎June 3, 2019

What is "it" you withdrew money from? A 401(k) or some other retirement account? I also question if you actually withdrew anything. I sounds to me more like you took out a loan against your retirement account, which means you withdrew nothing from the retirement account. It's just the collateral to secure the loan in case you don't pay it back per the terms of the loan.

Vanessa · ‎June 3, 2019

If you took a loan out from your retirement fund but are current with repayment then you do not need a 1099. This is not taxable.

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Do I need 1099 if I withdrew money from it but am currently paying it back? I’ve stayed with the company