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Best answer by dmertz

Code D1 indicates a distribution from a nonqualified annuity or life insurance contract and the taxable amount of the distribution is subject to an early-distribution penalty.  Codes D and 1 together are correct if the contract is considered to be a modified endowment contract.

2 replies

D
dmertzAnswer
Employee
June 5, 2019

Code D1 indicates a distribution from a nonqualified annuity or life insurance contract and the taxable amount of the distribution is subject to an early-distribution penalty.  Codes D and 1 together are correct if the contract is considered to be a modified endowment contract.

K
KatrinaB48
June 5, 2019

If the code in box 7 is wrong then you will need to contact your employer to get it corrected. Please view the Turbotax FAQ below to see a list of 1099-R box 7 codes.

https://ttlc.intuit.com/replies/4194736

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