Asked 3/7/2011
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Csf1099r box 5 insurance premiums Csf1099r do i deduct box 5 insurance premiums from taxable amount survivor annuity her husband passed awhile ago(not sure of date) I read that the health insurance premiums were not taxed so maybe they are not included in box 1 gross distribution? |
Answer 1/3 - Submitted 3/7/2011
The amounts in box 5 of a 1099-R are considered to be "after-tax" to the recipient. If your form shows a gross payment in box 1, and not a taxable amount in box 2a (or is missing box 2a, as some forms do), you can subtract the amount in box 5 from box 1 to determine your taxable income.
If this were wages rather than retirement, the insurance would have been pre-tax and non-deductible.
Answer 2/3 - Submitted 3/21/2011
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