Form 1099-R issued to you by the DFAS (Department of Defense Accounting Services) will show your net taxable pay after deducting the SBP (Survivor Benefit Plan) 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