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June 1, 2019
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Can I claim the money my pension plan deducted from my pension check for Insurance premiums Box 5 on Form 1099R?

  • June 1, 2019
  • 1 reply
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Best answer by KittyM

Yes, because they were paid by you.  

If you are a retired Public Safety Officer, there is a question in the 1099-R interview which asks if you are a retired Public Safety Officer.  If you answer "Yes" the interview will follow up by asking if your employer took money out of your pension for health insurance.  If you answer "Yes" again, TurboTax will inquire how much was taken.  This will give you a special deduction of up to $3,000 based on your service.  Remember to adjust the amount of your insurance premiums by this amount when you enter them in your itemized deductions.

1 reply

KittyMAnswer
Employee
June 1, 2019

Yes, because they were paid by you.  

If you are a retired Public Safety Officer, there is a question in the 1099-R interview which asks if you are a retired Public Safety Officer.  If you answer "Yes" the interview will follow up by asking if your employer took money out of your pension for health insurance.  If you answer "Yes" again, TurboTax will inquire how much was taken.  This will give you a special deduction of up to $3,000 based on your service.  Remember to adjust the amount of your insurance premiums by this amount when you enter them in your itemized deductions.