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Retirement tax questions
If the amount that you received from the surrender of the policy was less than your investment in the contract, the distribution is not taxable and the insurance company is not required to issue a Form 1099-R because there is no taxable income to report. Otherwise, the insurance company is required to have issued a Form 1099-R that you must obtain and enter into TurboTax.
March 28, 2024
2:41 PM