cdavis25 Posted June 10, 2015 Posted June 10, 2015 How do you report a 12/30/14 loan repayment that was deposited on 1/2/15? I always thought you do not show loan repayments as a Receivable on the schedule H. This plan does use accrual accounting for employee and employer contributions.
Lou S. Posted June 10, 2015 Posted June 10, 2015 You accrue the 401(k) contribution withheld on 12/30/14 but deposited on 1/2/15, why wouldn't you accrue the participant loan payment?
cdavis25 Posted June 10, 2015 Author Posted June 10, 2015 Loan repayments are not contributions. I guess I would ask the opposite question, why would you accrue it? What if the repayment was by a check instead of payroll deduction. How do you know you are going to get the loan repayment?
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