Submitted By: someone
Answered: February 20, 2019 9:37 pm

Can I take a $3,000 health insurance credit?

Retired public safety officers can elect to exclude from gross income up to $3,000 of distributions from qualified retirement plans that are used for qualified insurance premiums (this is NOT a tax credit). When taking the exclusion, write “PSO”) on line 4b of Form 1040.

advertisement
Tax Glossary

Qualified tuition program (QTP)

A state-sponsored college savings plan or prepayment plan, or a prepayment plan established by a private college.

More terms