MinhT1
Expert Alumni
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Retirement tax questions

If the surrender value of your life insurance policy is less than the total premiums you paid with after-tax dollars, then it is not taxable.

 

When entering your form 1099-R, you can enter the total premiums paid in box 5, even if the payer left it blank, provided you have documentation to justify the amount.

 

The same applies to your state PA return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post