Yes, if it was reported on Box 5 of a SSA-1099, it could be potentially taxable depending on your other sources you reported..
To claim, you need to report the SSA-1099 statements as recorded on the form. If the repayments are not recorded on your tax forms issued by the Social Security Administration, you must have proof either in the forms of canceled checks or a payment receipt. Here is how to report.
- Log into turbo tax
- Go to federal>wages and income>all income
- Retirement plans and Social Security>show more
- Social Security (SSA-1099, RRB-1099) Start
- Here you will enter your SSA-1099.
Now you will need to report your repayment as a Claim of Right Repayment. You can either claim as an itemized deduction, provided you have enough deductions to itemize, or take a credit for the tax assessed from social security income. Please read this article by Isabella G for detailed instructions on how to enter this in Turbo Tax.
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