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View Full Version : Do you get a 1099 are when you take a loan of 401?


rosa56
Feb 9, 2011, 06:37 AM
I took a loan from my 401 and I'm paying it every two weeks, My question is Im supposed to get 1099R for the loan I took and do I need to report it on my taxes.

ebaines
Feb 9, 2011, 08:04 AM
No. If you are current on paying the loan then you should not have received a 1099-R. Does it show the full amount of your loan, and what does the form list for the distribution code in box 7?