topic Temporarily used 401 funds in 2019, paid it back within 6 months, now my income is highly inflated thru 1099 R which I did not receive and have huge tax liability in Retirement tax questions

Temporarily used 401 funds in 2019, paid it back within 6 months, now my income is highly inflated thru 1099 R which I did not receive and have huge tax liability

Name9999 — Thu, 26 Mar 2020 19:15:11 GMT

Re: Temporarily used 401 funds in 2019, paid it back within 6 months, now my income is highly inflated thru 1099 R which I did not receive and have huge tax liability

DoninGA — Thu, 26 Mar 2020 19:17:19 GMT

If you did not receive a Form 1099-R how is it on your tax return?

A loan from a 401(k) is not reported on a tax return and you would not have received a Form 1099-R, unless this was not a loan but a distribution.

Re: Temporarily used 401 funds in 2019, paid it back within 6 months, now my income is highly inflated thru 1099 R which I did not receive and have huge tax liability

VolvoGirl — Thu, 26 Mar 2020 19:19:08 GMT

Sorry you had to put it back in within 60 days. It is now a distribution. Unless you got a loan. Did you get a 1099R for it? How did they let you replace it after 60 days? Sounds like a loan. If you didn't get a 1099R for it why are you entering it on your tax return?