Skip to main content
Level 1
January 14, 2023
Question

Can I put on my taxes the deduction for work that SSA is showing that they took out of my check every month

  • January 14, 2023
  • 2 replies
  • 11 views
On my SSA-1099 Social Security show a deduction for me working and there's no box for that on my taxes

2 replies

Level 15
January 14, 2023

The reduction in benefits that you receive as a result of having income higher than the limit for someone under full retirement age is not deductible.  It's, not a loss, it's an amount not included in your reportable income in the first place.  This reduction in benefits will be made up later when your benefit is re-determined at full retirement age.

Critter-3
Level 15
January 14, 2023

Note on the 1099-SSA that the amount was already handled ... in the TT program you ONLY enter the box 5 net amount paid.