Yes, you report the repayment. If your SSA-1099 has a negative number in box 5, enter the amount as a miscellaneous deduction on Schedule A by following these steps:
- In TurboTax, select Federal on the left side menu.
- Select Deductions & Credits on the top of the screen.
- Scroll down to the Other Deductions and Credits section and click on the Start/Revisit box next to Other Deductible Expenses.
- On the Did you have any of these less common expenses? screen, select Yes if the Repayments of $3,000 or less, otherwise select No.
- On the Did you have any of these less common expenses? screen, select Yes.
- Enter the information on the Tell us about your less common expenses screen.
- Continue with the onscreen interview until complete.
Source: IreneS
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