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December 16, 2024
Question

1099-R distribution

  • December 16, 2024
  • 1 reply
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Box 1 : amount of distribution, Box a blank , box 2b taxable amount not determined,  box 7 code 7 

this money received for cancer from the insurance is taxable or is not taxable 

    1 reply

    Employee
    December 17, 2024

    I assume the income was from a cancer insurance policy. If you paid the premiums the amount you received is not taxed. If paid, for example, by an employer, the amount is taxed.