Yes - you can claim a repayment of social security benefits. The way repayment is claimed depends in which year income was repaid and how much the repayment was.
If you repay income in the same year(such as Social Security benefits) you can net the repayment amount against the amount reportable as income.
A taxpayer who repays an amount that was reported as income in an earlier year may claim a tax deduction or tax credit for the repayment in the year the income is repaid.
If amount of the repayment is:
$3,000 or Less. Claim a miscellaneous itemized deduction on Schedule A (subject to the 2%-of-AGI limitation). If the taxpayer does not itemize, the tax benefit is lost." The data entry is located in the Deductions/Credits section.
Repayment over $3,000. If the amount you repaid was more than $3,000, you can deduct the repayment (as explained under Type of deduction , earlier). However, you can choose to deduct it as a deduction or a credit. You may choose the method that benefits you most.
