I recently lost my job and have a 401k loan. What can I do to lessen the blow when I do my 2016 taxes

[MichaelL1]

If you can pay back some of the loan that will help.

If when unemployed you keep track of medical premiums paid (if any) that would reduce a penalty.

Always file timely even if you owe money, as it will stop some penalties.

Do your taxes early (you don't have to file them right away) so you know the tax impact will help. 

These are the mail things, if you get back on your feet and save up money prior to April 18, 2017 (due date this year), any amount you can pay if you can't pay it all will help.