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February 7, 2024
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Retired public safety officers can deduct up to $3,000 for payments for premiums for health insurance ( IRS publication 575 page 7). How?

  • February 7, 2024
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Best answer by ThomasM125

After you enter your Form 1099-R in the Retirement Plans and Social Security section in TurboTax, you will be asked if you were employed as a public safety officer. When you answer yes, you will see two more screens where you can indicate that the pension administrator paid health insurance for you and you can enter the amount they paid. Up to $3,000 of the insurance premiums will be excluded from your taxable pension income.

 

1 reply

February 8, 2024

After you enter your Form 1099-R in the Retirement Plans and Social Security section in TurboTax, you will be asked if you were employed as a public safety officer. When you answer yes, you will see two more screens where you can indicate that the pension administrator paid health insurance for you and you can enter the amount they paid. Up to $3,000 of the insurance premiums will be excluded from your taxable pension income.

 

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rjm76Author
February 8, 2024

Thanks very much for your quick reply. This will help greatly.