I cashed in my insurance policy in 2021 and agreed to take payments over 5 years. The company sent me two 1099R's.
One of the 1099R's just lists the gross distribution and taxable amount. The second 1099R lists the amount of the first payment I received and the taxable amount.
Do I need to enter the first 1099R into TT, and if so, is it entered as a retirement account of what? None of the choices offered seemed to fit insurance cash out. The same question goes for the second 1099R, are the funds retirment funds or what?
Any assistance would be appreciated, and thank you.
John
