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December 29, 2020
Question

If i took a cares act withdrawl does the money i put in my 401k pre tax count toward paying back the withdrawal?

  • December 29, 2020
  • 1 reply
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because you can ask for a refund on the taxes for the withdrawal.   does that have to be after tax $?

1 reply

Employee
December 29, 2020

The elective deferrals from your pay, reported in box 12 of your W-2, are not repayments of your CARES Act withdrawal.  They are new contributions independent of the withdrawal.  Repayments come from your savings.