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Code D1 indicates a distribution from a nonqualified annuity or life insurance contract and the taxable amount of the distribution is subject to an early-distribution penalty. Codes D and 1 together are correct if the contract is considered to be a modified endowment contract.
Code D1 indicates a distribution from a nonqualified annuity or life insurance contract and the taxable amount of the distribution is subject to an early-distribution penalty. Codes D and 1 together are correct if the contract is considered to be a modified endowment contract.
If the code in box 7 is wrong then you will need to contact your employer to get it corrected. Please view the Turbotax FAQ below to see a list of 1099-R box 7 codes.
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