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Level 1
posted Apr 13, 2020 11:09:26 AM

1099R

I received a 1099R from my mom's Life Insurance from her work after she passed. The Turbo Tax is counting it as income and this was from her employer's Life Insurance as a death benefit. Why would it count as taxable income even though box 2a said 0.00 for taxable income? How do I enter this so the TurboTax won't tax the amount?

0 2 606
1 Best answer
Not applicable
Apr 13, 2020 12:09:45 PM

see this link

https://ttlc.intuit.com/community/retirement/discussion/my-1099-rs-are-both-life-insurance-proceeds-as-i-was-a-beneficiary-mine-is-not-retirement-is-your/00/377089

 

also check box 7 on the 1099 it should ne code 4 if truly life insurance and the ira/simple etc box should be blank. 

2 Replies
Not applicable
Apr 13, 2020 12:09:45 PM

see this link

https://ttlc.intuit.com/community/retirement/discussion/my-1099-rs-are-both-life-insurance-proceeds-as-i-was-a-beneficiary-mine-is-not-retirement-is-your/00/377089

 

also check box 7 on the 1099 it should ne code 4 if truly life insurance and the ira/simple etc box should be blank. 

Level 1
Apr 16, 2020 3:47:23 PM

Thank you, for your assistance. I got it!