What is distribution code 9 on a 1099-R for an IRA withdrawal, and is that income taxable? How does the withdrawal become tagged as being for life insurance protection?

kevd · ‎June 4, 2019

I'm wondering if an IRA withdrawal that is used to pay for a life insurance premium is excluded from income? What is Code 9 all about?

dmertz · ‎June 4, 2019

Code 9 does not apply to distributions from IRAs. Using a distribution from an IRA to purchase life insurance does not permit the distribution to be excluded from income.

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dmertz · ‎June 4, 2019

Code 9 does not apply to distributions from IRAs. Using a distribution from an IRA to purchase life insurance does not permit the distribution to be excluded from income.

kevd · ‎June 4, 2019

Thank you for your quick, thorough answer

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What is distribution code 9 on a 1099-R for an IRA withdrawal, and is that income taxable? How does the withdrawal become tagged as being for life insurance protection?