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R
rsagee
February 6, 2020
Question

Will turbo tax allow me to use the taxable amount instead of the full gross distribution on a cashed-in life insurance policy (for the state of montana?

  • February 6, 2020
  • 1 reply
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1 reply

DaveF1006
DaveF1006
February 6, 2020

No because this is not what is reported on your 1099 thus you cannot adjust it. Why would you want to do this anyway because it would mean you would have to pay more taxes that will result in a smaller refund?

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