I borrowed against my 401k but paid the taxes, do I list it on my form?

When i borrowed against my 401K I elected to have taxes taken out before I was paid.  Do I still need to put it on my taxes now?
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    If you had a distribution you will receive a 1099R and you will report it on your tax return. The 1099R will have the amount of the distribution and the amount that you had withheld for taxes so you will get credit for your withholding.
    If you just took a loan (borrowed but are paying it back with deductions from your paycheck) from your 401K that would not be taxed and you would not receive a 1099R.
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      If you took a loan then that is not reported and they wouldn't hold out taxes.  So it sounds like you actually took a distribution.  Did you get a 1099R for it?  

      Enter a 1099R under
      Personal
      Personal Income
      Choose Explore on my own (if it comes up),
      Then scroll way down to Retirement Plans and Social Security,
      Then IRA, 401(k), Pension Plans - click Start or Update

      If box 2a is zero or says unknown then leave it BLANK!

      After you enter the 1099R be sure to answer all the follow up questions on the next screens to determine how much is taxable or not. Go all the way to the end of the section. You have to enter it from the 1099R because there are codes on it you need to enter properly.

      You didn't actually pay the tax or 10% penalty (you pay a 10% early withdrawal penalty if you are under 59 ½).  You had taxes withheld like from your paycheck. You still have to enter the whole amount (before taxes were withheld) with your other income to figure out the total tax (and it may put you into a higher tax bracket)  and then the withholding is subtracted from the total tax to figure your refund or tax due.  The withholding will show up on 1040 line 62 or 1040A line 36.   The 10% penalty is on 1040 line 58.
      • I borrowed from my IRA  and did not let them take out taxes>  Can I wait until next year to file this on my in come tax?
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      Depends.  Did you "borrow" or take a distribution/withdrawal?  You don't report loans but you do report distributions.  If you actually took a withdrawal or distribution in 2011 then it goes on your 2011 return.  You will get a 1099R for it.
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