TAXMAN Posted January 3, 2018 Report Share Posted January 3, 2018 (edited) Filing a form 1041. not final and no distributions were made. Estate received a form 1099-r for a cashed in life insurance policy showing 230k as gross and 30k as taxable with wh on it. My concern is is this subject to the NIT tax or not? The code in box 7 is 4D. Your thoughts BTY box 5 has 200k in it. Edited January 3, 2018 by TAXMAN added additional note Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted January 3, 2018 Report Share Posted January 3, 2018 If it's an annuity, then it is subject to the NIIT. https://www.irs.gov/instructions/i8960#idm139638992187888 Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted January 3, 2018 Author Report Share Posted January 3, 2018 It appears from these instructions that it will be. Thanks for the tip and link. 1 Quote Link to comment Share on other sites More sharing options...
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