- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
SSA benefits received in 2023 and repaid in 2024
I received social security benefits in 2023 and I paid taxes on the amount received on my 2023 return. I repaid 100% of those benefits to SSA in 2024 and have now received a 2024 SSA-1099SM showing the repaid amount as a negative number in Box 5. I itemize for tax purposes and am wondering how TurboTax accounts for this repaid/negative income in 2024, I entered the negative # in Box 5 in TurboTax but TurboTax did not adjust my federal or state tax amount by even a penny. Thank you.
‎January 13, 2025
5:25 PM