E-file-Form-1099-LS | IRS Form 1099-LS | Reportable Life Insurance Sale

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Form 1099-LS

What is Form 1099-LS?

Form 1099-LS is used to report acquirer interest in a life insurance contract/policy in a reportable policy sale to report the acquisition. An acquirer is any person that acquires an interest in a life insurance contract (through direct acquisition or indirect acquisition of the interest) or in a reportable policy sale which means the acquisition of an interest in a partnership, trust, or other entity that holds an interest in a life insurance contract may be an indirect acquisition of that interest in a life insurance contract and could be a reportable policy sale.

The tax implications of a life insurance settlement should be considered prior to the sale of the life insurance policy. Tax2efile makes it easy to import, print and e-file the form 1099-LS directly to IRS.

1099-LS Form

1099-LS Form