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Recive Life insurance beneficiary check with no 1099-INT form

After my dad died, I received a check from Life Insurance company but did not receive form 1099-INT, although below the issued check, it mentioned:

  • CLAIM NUMBER: xxxxxxx
  • CERTIFICATES: xxxxxxx, xxxxxxx, xxxxxxx
  • TOTAL AMOUNT: $xxxxxxx  Plus $xxxxx interest  from 10/11/2022  to 12/07/2022

Where to report this income? I am using TurboTax Deluxe 2022 on Window 10.

How long should I wait to receive Form1099-INT, or the above 3 points I mentioned should be used to finish filing my return, and where to report them on TurboTax Deluxe?

(Some TurboTax-Support-Questions) I read they mentioned Form1099-LTC, which I also did not receive, should I worry about this Form 1099-LTC too?

Please let me know EXACTLY on how to go about reporting this income and finish my tax filing.

Many thanks for your kind attention and assistance.

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3 Replies
Vanessa A
Expert Alumni

Recive Life insurance beneficiary check with no 1099-INT form

The life insurance itself is not taxable so you will not report that anywhere on your return.

 

The interest on the life insurance is taxable so you will enter it by selecting the following:

  • Federal
  • Income
  • Start next to Forms 1099-INT, 1099-DIV, 1099-OID
  • Yes to did you receive any interest income
  • I'll type it in myself
  • Enter who you received it from and the amount you received.  You can do this without the form. 

You do not need to worry about a 1099-LTC for the death benefits as those benefits are not taxable.

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Recive Life insurance beneficiary check with no 1099-INT form

  • Enter who you received it from and the amount you received

Did you mean to enter the whole amount, OR only the interest received.

Again, many thanks for your great attention and assistance.

PattiF
Expert Alumni

Recive Life insurance beneficiary check with no 1099-INT form

You would only enter the interest that is mentioned on the check for the life insurance. Follow the steps above from Vanessa A to enter the interest in your return.

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