topic On my 2023 1099, there is an amount indicated as "deemed premium". Is this amount taxable income? The heading says these items not reported to IRS. in Retirement tax questions

On my 2023 1099, there is an amount indicated as "deemed premium". Is this amount taxable income? The heading says these items not reported to IRS.

sjkopala-verizon — Tue, 10 Feb 2026 09:31:22 GMT

Re: On my 2023 1099, there is an amount indicated as "deemed premium". Is this amount taxable inc...

TomK2023 — Thu, 25 Jan 2024 15:43:11 GMT

No. This "deemed premium" is for your informational purposes; it is not reported to the IRS as ax taxable amount.

Deemed Premium means the premium amount the Participant would have been required to pay on an annual after-tax basis to the Prior Policy during the Premium Period.

Re: On my 2023 1099, there is an amount indicated as "deemed premium". Is this amount taxable inc...

amdail — Tue, 02 Apr 2024 20:18:34 GMT

To be clear, the amount listed on the line "Other Receipts & Reconciliations-Deemed premium" in the section titled Reconciliations, Fees, Expenses and Expenditures on my Combined 1099 from my broker... has no tax impact and is not input anywhere in TurboTax, correct?

Re: On my 2023 1099, there is an amount indicated as "deemed premium". Is this amount taxable inc...

SusanY1 — Tue, 09 Apr 2024 18:52:06 GMT

Correct.