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cc6080
February 18, 2024
Question

Took a 401k loan out but have not received 1099 or what ever I supposed to get

  • February 18, 2024
  • 2 replies
  • 0 views
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2 replies

X
xmasbaby0
Employee
February 18, 2024

You do not get a 1099R for a 401k loan.   You get a 1099R if you took money out of a 401k and did not pay it back.   If you paid it back there is nothing to enter on your tax return about it.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
O
Opus 17
Employee
February 18, 2024

A loan is not taxable income because you promised to pay it back.  If you ever stop making payments any outstanding balance will be converted into a distribution and you would get a 1099-R at that time.  

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