If i received loan from 401k they take out my check every pay period for 5 years do i report it on taxes.

posted

Connect with an expert

1 Best answer

Accepted Solutions

No you do not report loans on your tax return. But if you get a 1099R for it then it turned into a distribution and will be taxable.

1 Reply

No you do not report loans on your tax return. But if you get a 1099R for it then it turned into a distribution and will be taxable.

Still have questions?

Questions are answered within a few hours on average.

*Must create login to post

Unlock tailored help options in your account.