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Retirement tax questions
When you receive your SSA payment in 2023 for the amount of the benefits that you received in that year, simply subtract the repayments that you owe for the prior years from the benefits received and include the final number as a net benefit as if it was the amount showing in Box 5 of your SSA form 5 on your tax return for 2023. If however the net benefits result in a negative figure, then none of those benefits will be taxable. See HERE pg .5 under Subsection "Repayment of benefits."
and pg. 15 under Subsection " Repayment More Than Gross Benefits."
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‎January 29, 2024
9:58 AM