received a 1099r for a life & accidental death distribution on my deceased son. is this taxable income?
the distriubtion code on the 1099r says 4. i know life insurance payouts to beneficiaries are nontaxable so i’m wondering why i received a 1099r.
Box 1 of the 1099-R shows the gross distribution. Box 2a of the 1099-R shows the taxable amount. In your case, Box 2a should be either blank or zero to show there is no taxable income.
The codes in Box 7 identify the distribution you received. Code 4 in Box 7 means Death.