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    TIN401's Avatar
    TIN401 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Mar 28, 2007, 10:22 AM
    401K loan and interest expense
    If you borrowed money from your 401 K, is the interest tax deductilbe for the borrower? Does the 401 K give you a year end report ?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 2, 2007, 01:22 PM
    No, it is NOT deductible, bacuse you are actually paying YOURSELF the interest.
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