Surrendered life insurance reporting

[fortony0]

How exactly to I enter taxable gains for a surrendered life insurance policy?

Seems it is on 1099-R but I do not see where this is on online TurboTax.

[AmyC]

Yes, a1099-R is used to report a gain between the payout and the premiums. It is most common for retirement income. It is entered in wages and income. Follow these steps:

Review and edit your income section.

There is a search box under your income. Type 1099-R and you will see retirement come up.

Select retirement plans and enter your form.

[trb94611]

Is it "Qualified" or "non-Qualified"?

[BrittanyS]

To be considered qualified, they must meet the following criteria:

• Be paid by an American company or a qualifying foreign company
• Be paid between January 1, 2024, and December 31, 2024
• Meet the holding period requirement for the stock—the holding period is at least 60 days during the 121-day period that begins 60 days before the ex-dividend date (the day after a company announces its dividend payments to shareholders)

@trb94611