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August 9, 2024
Question

HOW TO CHANGE TAXPAYER PLUS LINE 26D

  • August 9, 2024
  • 1 reply
  • 0 views

SHOWS MISTAKE UNDER TAXABLE 26d insurance premium for retired public safety officers...6,000 entered into column but correction says only $3,000 allowed ...HOW DO I CHANGE THE COLUMN TO $3,000 ?????

    1 reply

    DoninGA
    Employee
    August 10, 2024

    You need to go back through the section for entering a Form 1099-R.  After entry of the 1099-R there will be a question asking if you were a Public Safety Officer.  Answering Yes, the program will then ask you if money was taken our for health insurance, answer Yes.  The maximum being $3,000, so enter that amount.

    On your Form 1040 Line 5a the amount withdrawn will be entered.  On line 5b PSO will be entered and the amount on Line 5b will $3,000 less than the amount on Line 5a.

     

    To enter, edit or delete a form 1099-R -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Scroll down to Retirement Plans and Social Security
    On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

     

    Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R