Do It Yourself

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Member
justintedie
Posts: 1
Registered: ‎02-24-2014

Where do I enter information from a 1099R form for a variable life policy that I closed?

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.