The Military.com site states that this will be issued on a 1099-R that only shows the taxable pay.
"Question 1. Can the cost of the SBP entered as a deduction on my federal income tax return?
Answer: No. Form 1099-R issued to you by the DFAS will show your net taxable pay after deducting the SBP cost."
You will enter the 1099R in TurboTax tax as follows in the Income section:
To enter pension and annuity Payments (1099-R)
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Retirement Plans and Social Security
- On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
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