grc7602
New Member

My 1099-R, box 1 & 8 have the same amount, box 7 is code W. TurboTax is asking what I did with this money. Which answer is best for this situation?

The amount in box 1 is for LTC rider charges for the previous year andis not treated as taxable income. The amount in box 8 is the reduction in the cost basis of the policy.