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Do i need a 1099R from my 401K if I am paying back a loan

 
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Rachel_W
Expert Alumni

Do i need a 1099R from my 401K if I am paying back a loan

No, you will not receive a Form 1099-R if you took a loan from your 401(k) that you are paying back.  

However, if you were to default on the loan, it would be deemed a Distribution and you would then receive a Form 1099-R in the year of default.

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1 Reply
Rachel_W
Expert Alumni

Do i need a 1099R from my 401K if I am paying back a loan

No, you will not receive a Form 1099-R if you took a loan from your 401(k) that you are paying back.  

However, if you were to default on the loan, it would be deemed a Distribution and you would then receive a Form 1099-R in the year of default.

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