You'll need to sign in or create an account to connect with an expert.
A 401(k) loan is not reportable unless it becomes a deemed distribution due to failing to comply with the terms of the loan or it becomes an offset distribution because the loan came due because you left the company. A deemed distribution (code L) or an offset distribution (code M) would be reported on a Form 1099-R that you would enter into TurboTax.
A 401(k) loan is not reportable unless it becomes a deemed distribution due to failing to comply with the terms of the loan or it becomes an offset distribution because the loan came due because you left the company. A deemed distribution (code L) or an offset distribution (code M) would be reported on a Form 1099-R that you would enter into TurboTax.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
SandyOH
Level 3
temperaturesealion
Level 1
shannon-marie100
New Member
SuperNuck2172
New Member
kpz504610
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.