catbrenner
Level 2
 
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IntuitRebecca
Moderator
Moderator

Hi there,

You can enter that on the 1099-R screen. Select the "Other Information" section along the top, and scroll down a bit until you see this field:

Screen Shot 2021-05-13 at 5.11.56 PM.png

- Rebecca

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gfpstaxes
Level 4

I have a client who was a firefighter. Here's the situation:

1) He's getting a pensions from that job, but no health insurance premiums are being paid out of that pension.

2) However he also worked for the TX Highways dept and insurance premiums were paid out of that pension.

Even though it's not the related pension that is paying his health insurance premiums, can he make use of that credit because he was a Public Safety Officer?

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George4Tacks
Level 15

Are the payments being made pre tax or post tax?

 


Here's wishing you many Happy Returns
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gfpstaxes
Level 4

It's part of his taxable pension income.

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qbteachmt
Level 15

Pub 575:

"you can elect to exclude
from income distributions made from your eligible retire-
ment plan that are used to pay the premiums for accident
or health insurance or long-term care insurance. The pre-
miums can be for coverage for you, your spouse, or de-
pendents. The distribution must be made directly from the
plan to the insurance provider."

 

So, no. Doesn't qualify.

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"Level Up" is a gaming function, not a real life function.
qbteachmt
Level 15

Ooh, here's a nice pdf:

https://www.socxfbi.org/common/Uploaded%20files/Membership/TaxDeductionForPSOs.pdf

"The distribution must be from a retirement plan maintained by the
employer from which the taxpayer retired as a public safety officer and
cannot be from some other retirement plan.
"

https://www.irs.gov/pub/irs-pdf/p721.pdf

Go to "Distributions Used To Pay Insurance
Premiums for Public Safety Officers
"

 

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"Level Up" is a gaming function, not a real life function.

View solution in original post

gfpstaxes
Level 4

Thank you. That certainly clears it up.

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