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Do we fill out anything for the portion of every check last year that went towards paying back the amount withdrawn from 401k in 2016. Will it increase the refund?

 
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Coleen3
Intuit Alumni

Do we fill out anything for the portion of every check last year that went towards paying back the amount withdrawn from 401k in 2016. Will it increase the refund?

Are you referring to paying back a loan you took from your 401k? If so, as long as it was still considered a loan and not entered as income on a 1099-R, you did not pay tax on it. Your pension loaned you money and you are paying it back. There is no entry on the tax return.

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Coleen3
Intuit Alumni

Do we fill out anything for the portion of every check last year that went towards paying back the amount withdrawn from 401k in 2016. Will it increase the refund?

Are you referring to paying back a loan you took from your 401k? If so, as long as it was still considered a loan and not entered as income on a 1099-R, you did not pay tax on it. Your pension loaned you money and you are paying it back. There is no entry on the tax return.

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