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Re:borrow from a 401-K or IRA (1 viewing) (1) Guest
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TOPIC: Re:borrow from a 401-K or IRA
#7751
C. Lochen (User)
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borrow from a 401-K or IRA 6 Years, 6 Months ago Karma: 0  
What is the time limit for repaying money to an IRA or 401-k without having a penalty imposed and without having to claim it as income?
 
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#7785
Jackie (User)
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Re:borrow from a 401-K or IRA 6 Years, 6 Months ago Karma: 3  
I think you have to repay the money within 60 days of taking it out. Otherwise, its ordinary income and maybe subject to 10% penalty. I dont believe there are any extensions to the 60 day rule. Hope that helps.
 
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