I cashed in a life insurance policy, and had taxes withheld from the distribution. I received a 1099-r form documenting this. Should it show as retirement income?

[DianeW777 · Accepted solution]

Yes, that is how a life insurance policy distribution will be reported.  Follow the steps below to enter your 1099-R:

Here's where to enter your 1099-R in TurboTax:

1. Open or continue your return.
2. In the Federal section, select Wages & Income.
3. Scroll to locate Retirement Plans and Social Security.
4. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).

You can also find the 1099-R section using Search. Open your return, enter 1099-r in the search bar, and select the Jump to 1099-r link.