The life insurance itself is not taxable so you will not report that anywhere on your return.
The interest on the life insurance is taxable so you will enter it by selecting the following:
- Federal
- Income
- Start next to Forms 1099-INT, 1099-DIV, 1099-OID
- Yes to did you receive any interest income
- I'll type it in myself
- Enter who you received it from and the amount you received. You can do this without the form.
You do not need to worry about a 1099-LTC for the death benefits as those benefits are not taxable.
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