MindyB
Expert Alumni

Get your taxes done using TurboTax

Based on the information you provided, the 1099-R is not taxable.  You can enter $0 for the taxable amount in Box 2a.

 

For the smaller cash value payouts, if they are also not taxable, you do not need to enter anything on your tax return.  However, if you have calculated taxable income (payout greater than premiums), then you should enter the information on your tax return.  You can create a mock 1099-R to include the information, if needed.