Discussion:1099-R code 4
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Discussion Forum Index --> Advanced Tax Questions --> 1099-R code 4
Discussion Forum Index --> Tax Questions --> 1099-R code 4
| 24 January 2008 | |
| Life insurance used as funding vehicle for Defined Benefit retirement plan; employees rec'd 1099 annually for PS58 costs from Employer; employee dies, insurance proceeds paid to Employer (the retirement Trust account), who, in turn pays to surviving spouse. Insurance company doesn't issue 1099-Rs - that's how I got involved as Employer asked that we do the reporting, if required. The total of PS58 costs are greater than the policy's net cash value. Is a 1099-R, code 4 required? Use the decedent's SS# and surviving spouse's name or his name? I apologize in advance for what could be too simplistic of a question but I've never encountered this before. Thanks in advance for any advice given. | |
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