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?
You'll need to sign in or create an account to connect with an expert.
What insurance premiums are you referring to? Health, Life, Homeowner, Rental Property, Vehicle, etc.?
Health insurance premiums.
@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.
Thank You...
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
quigley_susan
New Member
ATan
Returning Member
HollyP
Employee Tax Expert
HollyP
Employee Tax Expert
HollyP
Employee Tax Expert