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Level 2
posted Jan 18, 2024 2:05:05 PM

A question re: SECURE Act 2.0

How can i deduct my 2022 insurance premiums pursuant to the SECURE Act 2.0 that I believe was signed into law on Dec 30th 2022?

0 4 365
4 Replies
Level 15
Jan 18, 2024 2:06:36 PM

What insurance premiums are you referring to?  Health, Life, Homeowner, Rental Property, Vehicle, etc.?

Level 2
Jan 18, 2024 2:36:14 PM

Health insurance premiums.

Level 15
Jan 18, 2024 2:49:59 PM

@mjnewt1 After you have completed entering your Form 1099-R there will several follow-up screens.  On one of the screens you will be asked if you were a Public Safety Officer (PSO), answer Yes.  Continue and there will be another screen how much you paid for health insurance, enter the amount paid but no more than $3,000.

On your Form 1040 Line 5a there will be a PSO entered.  On line 5b your taxable retirement income will be reduced by the amount of health insurance premiums you entered.

Level 2
Jan 18, 2024 2:55:52 PM

Thank You...