Guest cprbcompliance Posted November 28, 2007 Report Share Posted November 28, 2007 We are setting up our 1099-R forms and are trying to figure out how to report the $3000 PSO tax deductible insurance premiums. According to information that I am looking at, there is no special reporting for qualified payments of health insurance premiums. Therefore, any premium payments should be included in the gross distribution reported in Box 1 and in the Taxable Amount reported in Box 2a. It is up to the retirees to claim any eligible exclusion on their 1040. We think that this will be too confusing for retirees and they will not know to claim the exclusion. We are trying to make things easier for our retirees by sending two 1099s. The second would include their insurance premiums. I am curious as to what other public pension plans are doing in regards to 1099 reporting of PSO insurance premiums. Link to comment Share on other sites More sharing options...
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