My husband started drawing SS at age 66 1/2. We realized after he started, that if he waited until I started getting SS when I am 66 3/4, he would receive half of the amount I will receive. I made more money than him throughout the years. We asked within the year to get his SS benefits terminated. They received the termination letter in October, but did not process it until February 1, 2025. They will be requesting the amount paid in 2024 to be refunded to them anyway now. However; he has received the 1099 from SS with the payments listed for 2024.
Here is my question: He will be putting the info on the 1099 on our 2024 tax return, so we will be paying taxes on it 2024. The money will be paid back to SS soon. Since this will occur in year 2025, how will this be reported on the 2025 taxes?
Thank you,
Julaine Grady
