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cwb_1978
New Member

What is figured for box 5 on the 1099r for insurance premiums

 
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DawnC
Expert Alumni

What is figured for box 5 on the 1099r for insurance premiums

Generally, this shows the employee’s investment in the contract (after-tax contributions), if any, recovered tax-free this year; the portion that’s your basis in a designated Roth account; the part of premiums paid on commercial annuities or insurance contracts recovered tax-free; the nontaxable part of a charitable gift annuity; or the investment in a life insurance contract reportable under section 6050Y. 

This box doesn’t show any IRA contributions.  If the amount shown is your basis in a designated Roth account, the year you first made contributions to that account may be entered in box 11.

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