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March 6, 2020
Question

Can you deduct what your paying back on your 401K for a loan? There is a section that ask repayment made to other type of retirement plan???

  • March 6, 2020
  • 1 reply
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1 reply

SusanY1
March 6, 2020

No, there is no deduction for repayment to a 401(k) loan.  The loan proceeds aren't taxable, so the repayment isn't deductible.  

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