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Jun 1, 2019 7:03 AM UTC
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Retirement account loan

I took a loan against my retirement account which I am currently repaying under the terms of the loan.  Do I need to file this as income?
DavidD66Answer
Alumni - Intuit
Jun 1, 2019 7:03 AM UTC

No, you do not need to file anything for your loan.  If you left your job with your employer you have to pay back the loan in full, or the outstanding amount would be treated as a taxable distribution from your IRA.

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1 reply

DavidD66Answer
Alumni - Intuit
Jun 1, 2019 7:03 AM UTC

No, you do not need to file anything for your loan.  If you left your job with your employer you have to pay back the loan in full, or the outstanding amount would be treated as a taxable distribution from your IRA.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"