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New Member
posted Jan 25, 2021 8:15:48 PM

Is taking out a loan from my 401(k) considered collecting money from my retirement fund?

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1 Best answer
Level 15
Jan 25, 2021 8:18:06 PM

No.  You do not report loans on your tax return.  Only distributions.  If you get a 1099R for it then it was not a loan but a distribution.

2 Replies
Level 15
Jan 25, 2021 8:18:06 PM

No.  You do not report loans on your tax return.  Only distributions.  If you get a 1099R for it then it was not a loan but a distribution.

New Member
Jan 25, 2021 9:29:29 PM

Thank you!