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
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