If we borrow money from our 401k, would we have to claim it if repayment is being deducted through paycheck?
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1 Best answer
jerry2000
Alumni
Jun 4, 2019 3:09:51 PM
If you take a 401k loan and make payments through payroll deduction, then you will not get a Form 1099-R and you do not report the loan on your tax return.
2 Replies
jerry2000
Alumni
Jun 4, 2019 3:09:51 PM
If you take a 401k loan and make payments through payroll deduction, then you will not get a Form 1099-R and you do not report the loan on your tax return.