Took a 401k loan out but have not received 1099 or what ever I supposed to get
021154
2 Replies
xmasbaby0
Level 15
Feb 18, 2024 10:29:20 AM
You do not get a 1099R for a 401k loan. You get a 1099R if you took money out of a 401k and did not pay it back. If you paid it back there is nothing to enter on your tax return about it.
Opus 17
Level 15
Feb 18, 2024 10:47:38 AM
A loan is not taxable income because you promised to pay it back. If you ever stop making payments any outstanding balance will be converted into a distribution and you would get a 1099-R at that time.