Tag Archive: borrow from 401(k)

Know the tax consequences of borrowing from your 401(k) plan

Written by September 18, 2013

When you borrow from your 401(k), you become both a borrower and a lender. Whether that’s a good idea depends on your personal financial situation – and in the process of making the decision about lending money to yourself, you may have questions regarding the tax consequences. For instance, though you probably know the initial borrowing has no federal income...