Appreciate the response, but could you be a little more clear on the following?
I use annual dividends on the whole life insurance policy to pay my annual premiums.
Since my dividends for the tax year exceed my annual premiums, I get these 1099-R statements.
So if the excess dividends are reinvested, why would I be getting the 1099-R since no money is actually distributed to me?
Is it better to pay the annual premiums out of pocket? Would that stop the 1099-R statements which appear to add to my income?
Thank You!
