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Get your taxes done using TurboTax
You are correct. The original life insurance policy was subsequently annuitized. Given that the annuity made payments quarterly I don't see how there can be any taxable portion of the lump sum distribution beyond the accrued interest between the last quarterly payment and the lump sum distribution, but the 1099-R Box 2 is much larger than what that amount would be.
‎January 28, 2024
10:45 AM