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You
do not have to add this as income or report it on your taxes. A loan from a qualified plan is not considered a taxable transaction as long as you are paying
the loan back according to the terms of the loan. Also, if you quit
employment it is a deemed distribution and it becomes taxable at your
termination.
You
do not have to add this as income or report it on your taxes. A loan from a qualified plan is not considered a taxable transaction as long as you are paying
the loan back according to the terms of the loan. Also, if you quit
employment it is a deemed distribution and it becomes taxable at your
termination.
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