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Voice Maxed
Voice Maxed asked in Business & FinancePersonal Finance · 1 decade ago

What are the tax effects of 401k loan repayment ?

If i take a loan from my 401K, would the repayment be deducted from my pre or post-tax income?

4 Answers

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  • butnozzle
    1 decade ago
    Favorite Answer

    I believe the answer is no since you are not making payment to your 401K you are replenishing money that you borrowed from your 401K that was already not taxed. The government doesn't allow for many double dippings.

    Call and accountant but I am sure they would just laugh.

  • summerglow
    Lv 5
    1 decade ago

    401 k+l+m

  • Anonymous
    1 decade ago

    there are no tax implications at all. repayment is pre tax

  • hen d
    1 decade ago

    NO tax implications

    Source(s): http://www.complete-debt-info.com/
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