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.
Register for free to E-file Forms 1099-DIV, 1099-LS, 1099-H, 1099-SB, 1099-S, 1099-G, 1099-B, 1099-C, 1099-R, 1099-SA, 1099-A, 1099-OID, 1099-K, 1099-MISC, 1099-NEC, 1099-INT, 1099-LTC, 1099-Q, 1099-QA, 1099-CAP and 1099-PATR with Tax2efile or Call us at 703-229-0326 for assistance on filing your 1099 taxes online.