Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Where do you include life insurance payouts on Form 1040?
Where do you include life insurance payouts on Form 1040?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
attach pdf
Level 1
03-18-2021
01:54 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does anybody know where I would claim form 712 for a client that received a payout from a split dollar life insurance policy from his employer? Client was injured at work and lost his job but the company agreed to turn over the policy and then he cashed in the policy. I know the entire amount of the policy he received is taxable because he never contributed anything to the policy. I know form 712 is usually included on the estate tax return, but there is no estate in this situation as the name of the insured is still living. Any guidance would be greatly appreciated. TIA!
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
