Discussion:Form 8880, Line 4 question
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| I have a 1099-R with total distribution from a cash surrender value of a life insurance policy. Box 5 of the 1099-R is "Employee contributions or insurance premiums". I would think that premiumns would not be counted as part of the distribution on Form 8880 line 4. The Gross Distribution minus the premiums (box 5) equals the Taxable Amount. So, wouldn't just the Taxable Amount go on Line 4 of Form 8880? }} | I have a 1099-R with total distribution from a cash surrender value of a life insurance policy. Box 5 of the 1099-R is "Employee contributions or insurance premiums". I would think that premiumns would not be counted as part of the distribution on Form 8880 line 4. The Gross Distribution minus the premiums (box 5) equals the Taxable Amount. So, wouldn't just the Taxable Amount go on Line 4 of Form 8880? }} | ||
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| + | {{ForumReplyPost|UserID=Captcook|Date=15 October 2009|Text=Was the distribution from a qualified retirement plan? A distribution from a life insurance policy may be reported on form 1099-R, but is not necessarily a retirement plan distribution. See the instructions for line 4. }} | ||
Revision as of 04:00, 15 October 2009
Discussion Forum Index --> Basic Tax Questions --> Form 8880, Line 4 question
Discussion Forum Index --> Tax Questions --> Form 8880, Line 4 question
| 14 October 2009 | |
| Form 8880, Line 4 question: Does the 1099R Gross Distribution (box 1) or Taxable Amount (box 2a) go on line 4 of Form 8880?
I have a 1099-R with total distribution from a cash surrender value of a life insurance policy. Box 5 of the 1099-R is "Employee contributions or insurance premiums". I would think that premiumns would not be counted as part of the distribution on Form 8880 line 4. The Gross Distribution minus the premiums (box 5) equals the Taxable Amount. So, wouldn't just the Taxable Amount go on Line 4 of Form 8880? | |
| 15 October 2009 | |
| Was the distribution from a qualified retirement plan? A distribution from a life insurance policy may be reported on form 1099-R, but is not necessarily a retirement plan distribution. See the instructions for line 4. | |
