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I need help on a question concerning my 1099-R form the gross distribution is blank

Forum|Forum|6 years ago
April 28, 2020
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I received two 1099-R forms from my life insurance company. The amount in gross distribution is blank yet the amount in 2a has an amount. There is also an amount in box 5. I must add that this is a result of a TRAD-Lapse. I had taken out, over the years, loans on the whole life insurances. I put the amount exactly as given in TurboTax, but it does allow it because the amount in 2a is greater than box 1. I can't send it electronically. Is there a way to get it done electronically?

Best answer by macuser_22

The insurance company is in total violation of IRS rules for filing a 1099-R that specifies that box 2a is the *part* of box 1 that is taxable. It is not possible for *part* of zero to be anything but zero.

I believe I have seen that before form a particular insurance company that sends out impossible 1099-Rs and then refused to issue corrections.

You should ask the company to correct it and if they refuse use a substitute 1099-R (4852) exactally like the on you received but with the total amount of distribution in box 1 and in the explanation that TurboTax will ask say that the company refused to correct an obviously incorrect 1099-R.

macuser_22Answer

Employee

The insurance company is in total violation of IRS rules for filing a 1099-R that specifies that box 2a is the *part* of box 1 that is taxable. It is not possible for *part* of zero to be anything but zero.

I believe I have seen that before form a particular insurance company that sends out impossible 1099-Rs and then refused to issue corrections.

You should ask the company to correct it and if they refuse use a substitute 1099-R (4852) exactally like the on you received but with the total amount of distribution in box 1 and in the explanation that TurboTax will ask say that the company refused to correct an obviously incorrect 1099-R.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

R

rgurwellAuthor

I should add, that the only distributions have been loans over years past. I did not receive any distributions, nor asked for loans last year. I called the company, they said it is what it is and would not do anything to help. Thank you.

macuser_22

Employee

It is probably for the loan repayment and the box 2a amount is taxable and must also be in box 1. What code is in box 7?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**