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My 1099 is for a 1035 tax free exchange- why is it being used as income?

it is supposed to be a 1035 tax free exchange, but Total distribution is marked on line 2b
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MaryK4
Expert Alumni

My 1099 is for a 1035 tax free exchange- why is it being used as income?

Did you have a code "6" in Box 7, this indicates a tax-free exchange of life insurance, annuity, or endowment contracts under Section 1035.

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