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.
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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.
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.
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