Skip to main content
April 7, 2023
Question

Should I declare a life insurance received last year and if yes, where?

  • April 7, 2023
  • 2 replies
  • 0 views
No text available

2 replies

Employee
April 7, 2023

If you received a Form 1099-R, you must enter it.  However, if the insurance company knows that the distribution is nontaxable, the insurance company is permitted to forgo the reporting on Form 1099-R and without a Form 1099-R there is nothing about the distribution to enter on your tax return.

CatinaT1
April 7, 2023

Life Insurance proceeds are not taxable income.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"