I received a 1099-R for a life insurance payout as beneficiary for my wife's death. It has code 0 (zero) in box 7 and claims to be taxable. It was issued by her former employer. The IRA/Sep/Simple box is checked. It is not an IRA. The amount was promised upon her death. Why is this taxable and what does code 0 mean? This code is not an option in TurboTax dropdown menu.
