1099R life insurance dividends and RMD

Forum|Forum|1 year ago
March 8, 2025
1 reply
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I am stuck in the middle of completing my taxes. I have two 1099R forms for life insurance dividends. It’s now asking me to input an RMD due by December 31, 2024 first to insurance dividend 1099 hours subject to the RMD? I’ve left it as zero but an unable to complete my taxes due to notifications of outstanding items and it brings me back to the RMD

Sweetgeoege1936Author

me again. Beyond frustrated. Working on these taxes for four hours. I don’t recall last year ever having to plug-in information related to RMD. Is this new this year? I have 2 1099 R forms for life insurance dividends, small amounts that I never even received, was rolled back into the policy. Should I just ignore those forms? Any response would be appreciated

DianeW777

No, the income is taxable and will become part of your tax basis when it is cashed in. It's all right to indicate all of the funds were RMD since it is reported on Form 1099-R. This should include the income without creating any penalty.

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