ST Alpha - "plus if he loses his job, he owes the loan back. -- nm" (Reading a Post)

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In response to "never a good idea, since the penalty is so high.. -- nm" by colin

plus if he loses his job, he owes the loan back. -- nm

Posted by loosilu (aka loosilu2) Jun 15 '09, 07:34

(No message)

Responses:

no. if he loses the job, the loan becomes income and he pays taxes on it as if he took a distribution -- nm - decline Jun 15, 07:41 1
- either way, it's in the "not good" category... - znufrii Jun 15, 07:42

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