Retirement account loan

bvardiman · ‎June 1, 2019

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?

DDollar · ‎June 1, 2019

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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DDollar · ‎June 1, 2019

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.