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June 1, 2019
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I borrowed from 401k but currently paying it back thru deductions. Did not receive special form for this what do I do?

  • June 1, 2019
  • 2 replies
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Best answer by DoninGA

A loan from a 401(k) tax deferred retirement account is not reported on a tax return.  If you should default on the loan then it becomes a distribution and you would receive a Form 1099-R to be reported on a federal tax return.

2 replies

DoninGA
DoninGAAnswer
Employee
June 1, 2019

A loan from a 401(k) tax deferred retirement account is not reported on a tax return.  If you should default on the loan then it becomes a distribution and you would receive a Form 1099-R to be reported on a federal tax return.

June 1, 2019
You don't have to do anything. You don't report a 401k loan unless you default on the payments.