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Can I enter the amount I paid in insurance premiums in box 5

My 1099-R does not show any amount in box 5 but I paid $1400. insurance premiums
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1 Best answer

Accepted Solutions
ThomasM125
Employee Tax Expert

Can I enter the amount I paid in insurance premiums in box 5

It is not recommended that you override entries on a form 1099-R. The box 5 entry is for non-deductible contributions you made to your pension or in this case annuity, evidently, over the years that you contributed to it. You can't just enter the current year premiums.

 

If you think the entry is wrong, you should request that the insurance company fix it.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
ThomasM125
Employee Tax Expert

Can I enter the amount I paid in insurance premiums in box 5

It is not recommended that you override entries on a form 1099-R. The box 5 entry is for non-deductible contributions you made to your pension or in this case annuity, evidently, over the years that you contributed to it. You can't just enter the current year premiums.

 

If you think the entry is wrong, you should request that the insurance company fix it.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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