403b loan

Mike or Penny Novack stepbystepfarm at mtdata.com
Tue Feb 11 10:10:16 EST 2014


>
> OP said "loan" not "withdrawal", so I presume the plan administrator 
> agrees that the distributions qualify under the rules.  I repeat, 
> there are no tax consequences to qualifying 403(b) loans that are 
> properly repaid.  There are tax consequences to withdrawals.
>
Excuse me please, but the loan is always going to be a POTENTIAL 
withdrawal which is why it must be properly accounted for. You even 
included the proviso "that are properly repaid" but apparently do not 
recognize that as a future conditional event which may or may not take 
place. What happens if future events conspire that the loan cannot be 
repaid?

Michael


More information about the gnucash-user mailing list