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    Samnorma's Avatar
    Samnorma Posts: 2, Reputation: 1
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    #1

    Feb 18, 2013, 02:59 PM
    1099R insurance distribution
    I received a 1099R for a 2012 insurance contract distribution ( I cashed out the policy). Do I need to claim the amount in box 2a (taxable amount) on my PA State Tax return?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 18, 2013, 08:38 PM
    Probably. The insurance companies know all the ins and out of the tax laws concerning their products, so if they say it is taxable, it probably IS taxable.
    Samnorma's Avatar
    Samnorma Posts: 2, Reputation: 1
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    #3

    Feb 19, 2013, 05:45 PM
    I know that the amount in box 2a is taxable. The specific question is whether it's Pennsylvania State taxable.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 19, 2013, 06:04 PM
    If it is taxable on the federal level, almost always, it will be taxable on the state level.
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