I borrowed money from retirement, do i need to claim this income?
If this is a loan, it is not reported on your tax return. If it is not repaid, the financial institution would convert it to a distribution and then you would receive a 1099-R and report it as income.
I borrowed money from retirement, do i need to claim this income?
If this is a loan, it is not reported on your tax return. If it is not repaid, the financial institution would convert it to a distribution and then you would receive a 1099-R and report it as income.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.