401k Loan deemed distribution and Payback

USA Discussion in 'Individuals' started by apdcpas, Aug 8, 2018.

  1. apdcpas

    apdcpas

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    Client terminates employment in 2015 and gets a 1099r for loan balcnce that is recorded as taxable income on 2015 tax return.
    Client then pays back 401K full amount of loan balance in 2018 ( with in five year period). Can an amended return be filed to classify the deemed distribution as a rollover?
     
    apdcpas, Aug 8, 2018
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  2. apdcpas

    kirby VIP Member

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    Fact is there was no rollover. (Rolled over to where? is the question the IRS will ask) So , no.
     
    kirby, Aug 9, 2018
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