☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 2:56:59 PM

I defaulted 401k loan in 2016. However the money was disbursed in 2015. Can I refile 2015, rather than paying the taxes in 2016?

I took a loan against my retirement in 2015, unfortunatley I was not making enough money and ended up defaulting in 2016 so it became taxable income.  Can / should I refile for 2015?  I'd rather not have the tax liability in 2016.

0 1 352
1 Best answer
Level 15
Jun 4, 2019 2:57:00 PM

You must enter it on your tax return for the year the 1099-R was issued. That would most likely be 2016 if that is the year that you defaulted on the loan. 

1 Replies
Level 15
Jun 4, 2019 2:57:00 PM

You must enter it on your tax return for the year the 1099-R was issued. That would most likely be 2016 if that is the year that you defaulted on the loan.