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If I borrowed money from my reretirement and I didn't file a 1099 form because I didn't have one will I get audited?

 
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2 Replies
ColeenD3
Expert Alumni

If I borrowed money from my reretirement and I didn't file a 1099 form because I didn't have one will I get audited?

Yes. You must report all your income. You will need to file an amended return to include the income once the IRS opens on February 12. If you do not get the form by then, you should call your plan administrator.

If I borrowed money from my reretirement and I didn't file a 1099 form because I didn't have one will I get audited?

when you take a loan from retirement, you don't put that on your tax return.

There is nothing to do as long as you keep up the payments..

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