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:
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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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:
You do not need to worry about a 1099-LTC for the death benefits as those benefits are not taxable.
Did you mean to enter the whole amount, OR only the interest received.
Again, many thanks for your great attention and assistance.
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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