I borrowed $6,000 from my 401k for a downpayment on a car, Do I have to report that?

curlyjmk · ‎June 3, 2019

LindaA · ‎June 3, 2019

No, you do not have to report the information from your 401(k) loan unless you default on the loan. If you default on a 401(k) loan, you will receive a Form 1099-R to report the distribution.

Please see the TurboTax FAQ below for more information.

https://ttlc.intuit.com/replies/3300240

View solution in original post

LindaA · ‎June 3, 2019

No, you do not have to report the information from your 401(k) loan unless you default on the loan. If you default on a 401(k) loan, you will receive a Form 1099-R to report the distribution.

Please see the TurboTax FAQ below for more information.

https://ttlc.intuit.com/replies/3300240

I borrowed $6,000 from my 401k for a downpayment on a car, Do I have to report that?