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camilleky
New Member

I took a loan out of my Thrift Savings Plan (retirement plan). I did not get a 1099-R and I am paying the loan back. Do I count this as income?

 
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DoninGA
Level 15

I took a loan out of my Thrift Savings Plan (retirement plan). I did not get a 1099-R and I am paying the loan back. Do I count this as income?

A loan from a tax deferred retirement account is not reported on your tax return.  You would only receive a Form 1099-R if you had a distribution from the fund or you default on the loan, then it becomes a distribution.

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DoninGA
Level 15

I took a loan out of my Thrift Savings Plan (retirement plan). I did not get a 1099-R and I am paying the loan back. Do I count this as income?

A loan from a tax deferred retirement account is not reported on your tax return.  You would only receive a Form 1099-R if you had a distribution from the fund or you default on the loan, then it becomes a distribution.

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