I took out a 401k loan 1.5 years back for a home down payment. The loan had a 36 month term, and I was making payments thro' payroll deductions from my employer. I recently quit that job, and I am self-employed now. I am leaving the 401k with the administrator and not rolling over into an IRA.
The 401k administrator allowed me to make monthly payments directly from my bank account at the same rate as my original payroll deduction. This way I am not defaulting on the loan. Are these payments tax-deductible?