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danielle-kennedy
New Member

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

 
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VolvoGirl
Level 15

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

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.

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VolvoGirl
Level 15

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

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.

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