Solved: I borrowed 12,00.00 from my 401(K) plan. paying it back monthly. Is that taxable income and does it go in the 1099-R Entries?
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I borrowed 12,00.00 from my 401(K) plan. paying it back monthly. Is that taxable income and does it go in the 1099-R Entries?

 
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I borrowed 12,00.00 from my 401(K) plan. paying it back monthly. Is that taxable income and does it go in the 1099-R Entries?

If you are paying it back as required then it is not taxable income. In this case, you should not have received a 1099R and nothing would be entered. 

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Level 3

I borrowed 12,00.00 from my 401(K) plan. paying it back monthly. Is that taxable income and does it go in the 1099-R Entries?

If you are paying it back as required then it is not taxable income. In this case, you should not have received a 1099R and nothing would be entered. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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