Like I said, I am in over my head here for insurance.
I know of no way to do that when a 1099-R is involved. The IRS gets a copy form the issuer and expects to see that on your tax return. There would be nothing on the 1099-R to indicate that anyone but you received the money.
This does not seem right. How are they paying - one check or two and whose name is the check made out to?
I would think you need to look at the terms of the policy and how the owners are listed - joint owners or "and/or" and how that are to pay each owner.
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@dmertz - any insight here?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
