Skip to main content
Level 2
December 7, 2019
Solved

How do I record life insurance distribution from 1099 R, with a distribution code of "4"?

  • December 7, 2019
  • 2 replies
  • 14 views

Code "4" life insurance proceeds is recorded as income on 1040.

This topic has been closed for replies.
Best answer by IRonMaN

If they cashed out a policy instead of making the supreme sacrifice, part of it could indeed be taxable.

2 replies

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

If they cashed out a policy instead of making the supreme sacrifice, part of it could indeed be taxable.

Slava Ukraini!
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019

What do you mean "how"?  You enter the 1099R into the program like any other tax document...is it not appearing on the front page of the 1040?

Which version of ProSeries are you using?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 2
December 7, 2019
Thanks. I did enter the 1099, but it's included as ordinary income