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New Member
posted May 31, 2019 8:24:54 PM

I took a loan from my 403B plan. Should I be getting a 1099?

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1 Best answer
New Member
May 31, 2019 8:24:55 PM

No.  The beauty of a 401k or 403b loan is just that - it is NOT treated as a distribution.  No need to report your loan.

If you default on the loan repayments though, your loan administrator may re-classify the loan as a distribution and send you a 1099-R to report and pay taxes on.

Hope this helps.

1 Replies
New Member
May 31, 2019 8:24:55 PM

No.  The beauty of a 401k or 403b loan is just that - it is NOT treated as a distribution.  No need to report your loan.

If you default on the loan repayments though, your loan administrator may re-classify the loan as a distribution and send you a 1099-R to report and pay taxes on.

Hope this helps.