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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29799
Experience:  Taxes, Immigration, Labor Relations
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I received a loan from my pension that I am repaying through

Resolved Question:

I received a loan from my pension that I am repaying through payroll deduction. Is this subject to income taxes?
Submitted: 8 years ago.
Category: Tax
Expert:  Lev replied 8 years ago.

No - the loan is not taxable income.


However - If you will not be able to make regular payments back to the administrator of your pension plan - the balance outstanding will be deemed a distribution and will be your taxable income.


As long as you are current with your payments - there is no any taxable event.

Please let nme know if you need any clarification.


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