02-24-2014 03:56 PM
I closed a variable life policy this past year and need to pay taxes on the dividends. The only place I see to put in a 1099R doesn't have a category for a variable life policy. I've tried using the IRA, Simple and 401K options, but it taxes the entire payout, not just the dividends as it should. This was a policy that was paid for after taxes so the majority shouldn't be taxed again.