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No, TurboTax will not take money out of your 401k loan. You do not report your 401(k) contributions on your federal income tax return (except if listed on your W-2, then report under the W-2 section). Additionally, you do not report a loan from a 401(k) on your income tax return. If you default on the loan, it becomes a distribution and you will receive a Form 1099-R which will be reported on a tax return. Below is an similar answer to your question.
No, TurboTax will not take money out of your 401k loan. You do not report your 401(k) contributions on your federal income tax return (except if listed on your W-2, then report under the W-2 section). Additionally, you do not report a loan from a 401(k) on your income tax return. If you default on the loan, it becomes a distribution and you will receive a Form 1099-R which will be reported on a tax return. Below is an similar answer to your question.
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