I had a loan default - my 1099-R has different amounts for gross and taxable and the principal amount of the loan. Why?

Security Benefit no longer issues 1099-Rs for accrued interest on loans; the interest only defaults until the time the loan defaulted or is internally surrendered. So the gross is more than the taxable.



Nothing contained herein is intended to be, nor should it be construed as tax or legal advice. If you have a tax question or legal question, please consult your tax professional or attorney.

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