1099_R

2 replies
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I received a 1099-R from a company which is a Medicare supplement company. I have a high deductible policy with them so I contribute money so they can pay my deductible expenses. I made a very small amount of interest off of this contribution. Turbo tax is asking me to fill out a lot of information related to an annuity. This really is not an annuity and I don't know how to answer the questions on this form. Can I just report the interest in the interest section and forget abou the total 1099-R?

Benefit Assist Online

ThomasM125

Alumni - Intuit

No, the IRS will look for the form 1099-R entry on your return and may ask about it if it is missing. Also, Form 1099-R does not report interest income that I am aware of, so it may be incorrect to enter your distribution as such.

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Mike9241

Level 15

What are the codes in box 7? You may be misinformed about what you invested in. A normal Medicare Supplement policy would not issue a 1099-R, but some sort of annuity linked to Medicare would.

Mike9241