If we borrow money from our 401k, would we have to claim it if repayment is being deducted through paycheck?

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If we borrow money from our 401k, would we have to claim it if repayment is being deducted through paycheck?

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.

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If we borrow money from our 401k, would we have to claim it if repayment is being deducted through paycheck?

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.

If we borrow money from our 401k, would we have to claim it if repayment is being deducted through paycheck?

Sounds good, Thank you for the feed back!

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