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Hi and welcome to Just Answer!As long as you are still working for your employer who set 401k plan and you are paying back the loan to your 401k plan from your wages - it is not deemed distribution.Let me know if you need any help.
will i get taxed on the $ from the loan this year? or do i not get taxed since i am paying it back?
The loan is not a taxable income as long as your intention is to pay it back.Only if you stop paying it back - it will be deemed distribution and becomes taxable.However, as long as you are employed and are paying the loan - there is nothing taxable for you.