Question

How do I file the dividend I receive from state farm minus the amount I pay for my life insurance? They send it as a 1099r - Is this an rmd?

Forum|Forum|5 years ago
January 18, 2021
1 reply
0 views

I thought it was just a dividend and should be a 1099 DIV but they send it as a 1099R

TurboTax Deluxe Online

Check the Code in Box 7 of your 1099-R. This could indicate an Annuity Payment that is entered in TurboTax as income.

Click this link for more info on 1099-R Box 7 Codes.

This link gives details on How to Enter a 1099-R.

L

Larry112

Turbo Tax is using box 1 amount instead of box 2a amount as taxable amount which is not correct for situations when dividends exceed premiums. Last year turbo tax used the amount in box 2a correctly. Please advise how to correct or override program.

AmyC

Employee

I am going to assume you have a 1099-R with code 9.Then the entry continues:

not an IRA,

not public safety officer,

you may need to choose a state and answer questions.

My program is taking the box 2 amount for taxable income. Review your entry and make sure you did not mark under box 2 that the total distribution was taxable. The boxes should be blank.

@Larry112