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Level 6

1099-R Distribution Code M question about paying back what I borrowed

So in 2018 I borrowed from my 401K for a first time home purchase.  I was separated from my job and started a new one right away, while still owing the 401K loan.   Since I didn't have the money to pay it back I thought I would take it as an early distribution until I heard about the law changing.  So now in 2019 with my new job, I have a small loan on my 401K.  

 

1.  I have filed for an extension until October in order to give my self time to pay  back the 2018 loan.

2. If I pay back my current loan to myself on my current 401K does that money count towards my payback of my old one?  Or another way of asking this question is:  Does paying back a 401k Loan to myself count as a rollover?  

 

Make Sense?  any information would be great!

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Level 15

1099-R Distribution Code M question about paying back what I borrowed

Instead of having 60 days to pay back the loan, you have until the tax due date, including extensions to pay back the loan

See link below

https://ttlc.intuit.com/questions/4579331-can-401k-loan-offset-from-1099-r-having-code-m-allowed-to-...

 

so yes, monies paid back before you file would count as a rollover