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OK, I am assuming this was then life insurance and not an annuity. As an insurance annuity contract can be taxable and a 1099R would be issued.
You did not say if you got a 1099 for this or not. I am assuming - no.
You do not report life insurance as income on the return.
So to get credit for the payment made, you will:
Go to Federal Taxes,
Deductions & Credits,
Estimates &Other Taxes Paid,
then to Other Income Taxes,
Then to Other income Taxes Paid in 2016,
and you would have to open"Withholding not already entered on a W-2 or 1099", and under Federal and State you would enter the amount and then the drop down you would enter state two digit ID.
This is how you would get the credit for the Federal & State tax withheld.
I am making some assumptions, so if this is not correct, please post a comment and I will help you. Thank you.
OK, I am assuming this was then life insurance and not an annuity. As an insurance annuity contract can be taxable and a 1099R would be issued.
You did not say if you got a 1099 for this or not. I am assuming - no.
You do not report life insurance as income on the return.
So to get credit for the payment made, you will:
Go to Federal Taxes,
Deductions & Credits,
Estimates &Other Taxes Paid,
then to Other Income Taxes,
Then to Other income Taxes Paid in 2016,
and you would have to open"Withholding not already entered on a W-2 or 1099", and under Federal and State you would enter the amount and then the drop down you would enter state two digit ID.
This is how you would get the credit for the Federal & State tax withheld.
I am making some assumptions, so if this is not correct, please post a comment and I will help you. Thank you.
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