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Yes. If you enter the necessary information during the 1099-R interview, TurboTax will compute the deduction for insurance premiums for retired public safety officers (PSOs).
Once you complete the 1099-R interview you may preview your 1040 and scroll down to line 16. You'll see "PSO", the full amount of your pension on line 16a, and the taxable amount of your pension on line16b. (The taxable amount is the full amount less the smaller of $3,000 or the amount of health insurance premiums paid directly from your pension by the plan administrator.)
Click the screenshots below to enlarge them for reference.
I can I directly go to the PSO entry in TurboTax Deluxe?? Specific information will be greatly appreciated. [removed]
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