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posted Feb 12, 2024 10:30:20 PM

Do I need to report a loan taken against my 401k plan, since I am repaying it bi-weekly?

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1 Best answer
Level 15
Feb 13, 2024 4:48:30 AM

No.  The loan only becomes reportable if you default or you leave the company and the loan becomes satisfied with an offset distribution.  In either case you'll receive a From 1099-R to include on your tax return.

1 Replies
Level 15
Feb 13, 2024 4:48:30 AM

No.  The loan only becomes reportable if you default or you leave the company and the loan becomes satisfied with an offset distribution.  In either case you'll receive a From 1099-R to include on your tax return.