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Asked 1/23/2012

If you received a hardship loan for medical bills; paid the taxes on the loan. Is this something you may claim back on your incom tax returns?

If you received a hardship loan for medical bills; paid the taxes on the loan. Is this something you may claim back on your incom tax returns?

 
 
 
 
 
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Answer 1/2 - Submitted 1/23/2012

Income tax returns

 
 

Answer 2/2 - Submitted 1/24/2012

You wouldn't have had taxes taken out on a loan. It must have been coded as a distribution. In that case, you should the distribution as income, and the taxes as withholding.

You should receive a 1099-R showing both amounts.

 
 
 
 
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