Life insurance 1099r

[MargaretL]

Since you received form 1099-R for your life insurance, your cash value payout exceeded the contributions... the excess is reported as taxable income through form 1099-R and should be reported as such on your tax return: 

Here is data entry for 1099-R:

1. Federal Taxes
2. Wages and Income
3. Scroll down to Retirement Plans and Social Security
4. Select IRA, 401(k), Pension Plans (1099-R)

Note: if you believe you have no excess on the payout, you may want to call the administrator and verify.