Kemosabe
Level 1

in proseries how do you show a payback from a loan from your retirement fund to puchase a house

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sjrcpa
Level 15

You don't. It has no effect on the tax return.


The more I know the more I don’t know.
dkh
Level 15

If taxpayer received 1099R, there is an exception to penalties for first time home buyer.

rbynaker
Level 14

@sjrcpa wrote:

You don't. It has no effect on the tax return.


Unless maybe we're talking about the 8915-F Part IV.

sjrcpa
Level 15

Could be. OP did say loan, though.


The more I know the more I don’t know.
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sjrcpa
Level 15

Possible, but OP said loan.


The more I know the more I don’t know.
qbteachmt
Level 15

It's not repaying the loan that would trigger a 1099-R (for withdrawal/distribution) that would be part of the tax reporting. Repaying is expected.

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