Question

How do I report DFAS SBP Costs Retirement Reimbursement?

Forum|Forum|4 years ago
March 16, 2022
1 reply
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My account in the past used Schedule 1 under Part 1 Additional income but was a negative

Form 1099-R issued to you by the DFAS (Department of Defense Accounting Services) should show your net taxable pay after deducting the SBP (Survivor Benefit Plan) cost.

Deductions from your Retired Pay (Normal Payment Method)

The normal method of paying for SBP coverage is by an automatic deduction from your retirement pay. The vast majority of retired members with SBP coverage pay through this means. It is implemented automatically if you elect SBP coverage at the time you retire.

Defense Finance and Accounting Service

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