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1jmotheral
March 5, 2025
Question

Can I access Schedule 1, part 2 to adjust the cost of an insurance endowment payout?

  • March 5, 2025
  • 1 reply
  • 0 views
This is an insurance contract that has matured after 64 years. IRS says it is non taxable, but I have to enter the total cost of premiums. It looks like it should go on line 24Z of Sch. 1, part 2, but software won't let me in.

    1 reply

    X
    xmasbaby0
    Employee
    March 5, 2025

    If you are using online TurboTax you do not have direct access to the forms.  Forms mode is a feature of desktop download software.   With online, all of your entries are made via the interview screens.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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