Just to clarify, I am currently self employed and I plan on taking the standard deduction.
Starting in 2018 until mid 2020, I used to receive social security disability and SSI as my only forms of income. I never received enough SSI or social security disability to have to file taxes for those years so I did not. This disability income was never taxed as it never met the amount needed to be taxed. I had never worked before either, so I had no income or anything else to report for tax reasons.
There was a miscalculation that resulted in an overpayment which I am now paying back, I started paying this back in summer 2022. I have received an SSA-1099 showing what I have repaid so far with a negative number for box.5.
I am reading that I need to report this on Form 1040 lines A, 6a and I need to put a -0- for 6b.
Is there anything else I need to do with this or do I just need to report it there and that is it? I’m reading about itemized deductions for the social security disability overpayments, but in those cases the disability was previously subjected to tax. This sounds like this will not apply to me, correct?
The amount paid this year is not over $3,000.
