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I took out a loan from Lending Tree in 2016. They sent me a 1099R. what do I report it as?? It's not retirement plan income.
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Although 1099-Rs are commonly used for retirement accounts, they are also used for insurance contracts and other income. Even though yours is not a retirement plan, you would enter it under Retirement Plans and Social Security>IRA, 401(k), Pension Plan Withdrawals, because that is where 1099-Rs can be added.
From that point on, just type exactly what is in the form. The codes in Box 7 tell the program how the income is taxed.
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