larrybhunter
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401k loan default questions.
larrybhunter replied to larrybhunter's topic in Distributions and Loans, Other than QDROs
I repaid it to the plan. -
I had a 401k loan outstanding when I was laid off at the end of 2019 (I made all required payments in 2019). I was unable to pay it off at that time. The loan went into default in mid 2020. I thought I still had until I filed my 2020 taxes before it was treated as taxable income(per the 2017 Tax changes). I repaid the loan in November 2020, but I still received a 1099R with code 1L on it. Should I be receiving a revised 1099R? or how do I prove to the IRS that I repaid the loan?