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Hi, I am going to have to roll over a 401k soon. In it i have a loan we took out for a business and some personal money. we owe about 20,000
on the loan and the total is about 135,000. When we roll it over and do not pay for the loan, will we get taxed the penalty on all or just the 20,000 loan. I,am 55 and read i will be able just to have to pay the regular tax on the loan. The other part will be rolled into a IRA.
Please advise Thanks
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