If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

madisont13 · ‎June 5, 2019

MichaelL1 · ‎June 5, 2019

No it does not need to be reported an long as it is loan.

If you default on the loan and not pay it back, then you will issued a 1099R for the balance and will have to pay income taxes and penalty (if under 59 1/2).

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MichaelL1 · ‎June 5, 2019

No it does not need to be reported an long as it is loan.

If you default on the loan and not pay it back, then you will issued a 1099R for the balance and will have to pay income taxes and penalty (if under 59 1/2).

If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

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If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

If I borrowed 3500 from my 401k do I have to put this in my taxes if I do how do I do it?

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