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5547388
Returning Member

Life Insurance payout with less than $600 taxable interest

I received a life insurance payout as I was the beneficiary of my son's life insurance policy. I did not receive a 1099-INT or 1099-R form from the insurance due to the taxable interest is less than $600. How do I report this on my income taxes? Do I report it under 1099-INT or 1099-R? Additional I do not have any of the information like the TIN. What is your guidance?

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2 Replies

Life Insurance payout with less than $600 taxable interest

Sorry for your loss. use form 1099-INT to report the interest. the only two items needed for the 1099-INT are the insurance company's name and the interest amount

 

5547388
Returning Member

Life Insurance payout with less than $600 taxable interest

Thank you for responding.

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