I borrowed money from my 401k in 2016. Do I need to provide that info and if so how do it?

posted

Connect with an expert

1 Best answer

Accepted Solutions

I borrowed money from my 401k in 2016. Do I need to provide that info and if so how do it?

A loan from a 401k tax deferred retirement account is not reported on a tax return. If you default on the loan then it becomes a distribution and you would receive a Form 1099-R to be reported on your tax return.

View solution in original post

1 Reply

I borrowed money from my 401k in 2016. Do I need to provide that info and if so how do it?

A loan from a 401k tax deferred retirement account is not reported on a tax return. If you default on the loan then it becomes a distribution and you would receive a Form 1099-R to be reported on your tax return.

Still have questions?