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gl_bizworks
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My dad passed away in 2017. I received 3 payments. Two were group term life payments. The other was a 401k disbursement. Where/how do I file the imcome from the 401k?

 
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KittyM
Level 2

My dad passed away in 2017. I received 3 payments. Two were group term life payments. The other was a 401k disbursement. Where/how do I file the imcome from the 401k?

You should receive a 1099-R from the custodian of your father's 401k giving you the information you need to file this information on your 2017 return.  (The life insurance proceeds are not taxable, unless there is interest income, which is taxable.)

If you have not yet received it, be patient a few more days, as it was not required to be sent before 1/31/18.  Do not try to calculate or file your return without the 1099-R, and if you don't receive it by mid-February, you should call the custodian and inquire after it.

This income is reported on the Federal return Wages & Income tab.  Scroll down to Retirement Plans and Social Security, then Show moreStart or Revisit Stocks, Mutual Funds, Bonds, Other and enter your 1099-R.

Please accept my condolences on the loss of your father.

edited [ 2.5.18 | 1:16 pm ]

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2 Replies
KittyM
Level 2

My dad passed away in 2017. I received 3 payments. Two were group term life payments. The other was a 401k disbursement. Where/how do I file the imcome from the 401k?

You should receive a 1099-R from the custodian of your father's 401k giving you the information you need to file this information on your 2017 return.  (The life insurance proceeds are not taxable, unless there is interest income, which is taxable.)

If you have not yet received it, be patient a few more days, as it was not required to be sent before 1/31/18.  Do not try to calculate or file your return without the 1099-R, and if you don't receive it by mid-February, you should call the custodian and inquire after it.

This income is reported on the Federal return Wages & Income tab.  Scroll down to Retirement Plans and Social Security, then Show moreStart or Revisit Stocks, Mutual Funds, Bonds, Other and enter your 1099-R.

Please accept my condolences on the loss of your father.

edited [ 2.5.18 | 1:16 pm ]

KittyM
Level 2

My dad passed away in 2017. I received 3 payments. Two were group term life payments. The other was a 401k disbursement. Where/how do I file the imcome from the 401k?

@gl_bizworks Please see my edited comment for instructions on where to enter in the return.
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