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Level 1

Can I ignore SSA-1099 SS benefit statement because I started to receive the benefit in January 2016. but I cancelled it and repaid all benefits in October 2016

 
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Level 1

Can I ignore SSA-1099 SS benefit statement because I started to receive the benefit in January 2016. but I cancelled it and repaid all benefits in October 2016

Yes and No.

Yes -- You can ignore the form if the amount in Box 5 of SSA-1099 is zero (0) (or it is blank).

No -- Don't ignore the form if there is an mount in box 5.   Box 5 is a net amount, taking into consideration the repayments made.

The SSA-1099 is broken down like this:

  • Box 3 - Your gross benefits 
  • Box 4 - Your repayments
  • Box 5 - Your net benefits for 2015 (box 3 minus box 4).

TurboTax only asks for box 5 - the net amount.  [See Screenshot #4, below.]

If the repayments you made do not show in Box 4 of the statement, contact the Social Security Administration to request a corrected SSA-1099.


To enter Social Security income please follow these steps:

  1. Click on Federal Taxes >  Wages & Income.
  2. In the Retirement Plans and Social Security section, click on the Start/Revisit box next to Social Security (SSA-1099, RRB-1099)   [See Screenshot #1, below.]
  3. On the next screen, Social Security Benefits, mark the Yes box and click Continue.  [Screenshot #2]
  4. On the screen Tell Us About the Benefits You Received, mark the box for Social Security benefits (Form SSA-1099).  [Screenshot #3]
  5. A set of boxes will appear for you to enter the Social Security benefits for you and your wife.  [Screenshot #4]
  6. Click Continue when done.
  7. The next screen will ask if you received any lump-sum payments.  Mark the appropriate button and click Continue [Screenshot #5]