I have three 1099-R's with a 7 didtribution code but did not receive any money. There was a loan on life insurance years ago How do I report this?

[Critter · Accepted solution]

It is taxable now since the Insurance company has closed out the loan status as a taxable distribution  ... so you will enter all 3 1099-R forms as printed.  

[macuser_22]

Enter them exactally as on the form.   If you do not understand them then contact the insurer for an explanation.

Enter a 1099-R  here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu  (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type:  Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE:  When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases.  You can always return as shown above.]