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If I repaid social security benefits last year and no longer receive them, how do I claim that overpayment on my taxes? Box 4 and box 5 are the same on my SSA-1099 form

Turbo tax asks If I received benefits, but there is no way to enter the repayment.
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1 Reply
MarilynG1
Expert Alumni

If I repaid social security benefits last year and no longer receive them, how do I claim that overpayment on my taxes? Box 4 and box 5 are the same on my SSA-1099 form

Net benefits, in box 5 of SSA-1099, represents gross benefits (box 3) less repayments (box 4).  As long as the amount in box 5 is positive, any repayment in box 4 is included in net benefits and need not be reported separately.  Enter the net benefits from box 5 in the Net benefits field of screen SSA.

 

If you repaid benefits from a lump-sum distribution in a prior year, click this link for instructions on How to Claim Tax Paid on Prior Year Benefits.

 

@ejbriejr-yahoo-c 

 

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