Yes, you can reduce your taxable pension by your medical insurance premiums, but not directly. You must enter form 1099-R into TurboTax exactly as it appears and please do not change any values. However, you can then go to Deductions & Credits section and enter your medical premiums as your medical expenses.
To enter form 1099-R:
- Federal Taxes
- Wages and Income
- Scroll down to Retirement Plans and Social Security
- Select IRA, 401(k), Pension Plans (1099-R)
Then, please visit medical expenses section:
- Federal Taxes
- Deductions and Credits
- Scroll down to Medical,
select Medical Expenses,
enter the total amount for all medical
insurance premiums that you paid
