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posted Feb 27, 2025 12:48:07 PM

How is money from a insurance policy surrender shown on a 1099-R put on a tax from?

Received a 1099-R showing gross distribution amount and taxable amount for a insurance policy surrender. How is this shown on my tax forms?

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1 Replies
Expert Alumni
Mar 2, 2025 3:02:34 PM

The box 1 of the IRS form 1099-R flows to box 5a of the IRS form 1040.

 

Box 2a of the IRS form 1099-R flows to box 5b of the IRS form 1040.

 

 

In TurboTax Online, report the IRS form 1099-R as follows:

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & income.
  • Click the down arrow to the right of Retirement Plans Social Security.
  • Click to the right of IRA 401K Pension Plan Withdrawals.
  • At the screen Let's import your tax info, select the provider.