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IRS Pub 575 allows for up to a $3,000 exclusion for Insurance Premiums for Retired Public Safety Officers. How do you enter this into Proseries?

jjmiddaugh
Level 1
According to Pub 575 you reduce line 2a on the 1099-R by the amount of the exclusion and show "PSO" on Live 5b of Form 1040. I can't figure out how to get Proseries to put the "PSO" on Live 5b.
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2 Comments 2
IRonMaN
Level 15

There is a line item for it on the 1099R.  Sometimes I have to stare at it awhile to find those kinds of things.


Slava Ukraini!
dascpa
Level 11

Under insurance on 1099-R worksheet, third line "Amount of qualified insurance premiums paid subtracted from an eligible retired public safety officer's distribution".