Started soc sec then cancelled & paid it back after 2 paymnts rec'd. SSA-1099 box 5=none. Do I declare that I did receive income & net is 0, or enter nothing?

Turbotax asks the question: Did you receive Social Security or Railroad Retirement benefits in 2022? Technically, I did but then withdrew and paid it all back. How should I answer that question in Turbotax? Will it cause any 'red flags' with the IRS screening if I received an SSA-1099 but don't enter it on my return even if the net amount was 'NONE'?

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1 Best answer

Expert Alumni

Feb 14, 2023 5:55:23 PM

You should answer no to the question "Did you receive Social Security of Railroad Retirement benefits in 2022?" No red flags will be raised because there was no income reported on the SSA-1099.

Expert Alumni

Feb 14, 2023 5:55:23 PM

You should answer no to the question "Did you receive Social Security of Railroad Retirement benefits in 2022?" No red flags will be raised because there was no income reported on the SSA-1099.

Level 2

Feb 17, 2023 10:30:34 AM

Thank you, I appreciate the help.

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Started soc sec then cancelled & paid it back after 2 paymnts rec'd. SSA-1099 box 5=none. Do I declare that I did receive income & net is 0, or enter nothing?