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J
jaykaraw
Level 1
June 4, 2019
Question

Do I enter a gross distribution or taxable amount on the life insurance proceeds box?

  • June 4, 2019
  • 1 reply
  • 0 views
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1 reply

MarilynG
MarilynG
Level 15
June 4, 2019

If you received a 1099-R from an insurance company, enter it exactly as shown, especially if there is a different amount in Box 2, Taxable Amount, than Box 1, Gross Distribution.

If you did not receive a 1099-R to report Life Insurance Death Benefits, you don't have to report them in your return; they are not taxable.

Here's more info:

https://ttlc.intuit.com/replies/6087072

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