106137
I have a Claim of Right tax issue under IRC Section 1341 because I reported Social Security Income in 2015 which I repaid in 2016. I have a negative amount (over $3,000) on my SSA-1099 on Box 5. From the answer I received last year, I am to figure my tax in two ways, also as indicated in IRS Pub 715. How do you figure this in TurboTax? The answers I was provided with last year, 3730631 and 3730815, seem not to exist .
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Instructions here are specifically for your repayment because it's greater than $3000.
- If method 1 results in less tax, deduct the amount repaid.
- If method 2 results in less tax, claim the credit figured in (3) above on Form 1040, line 71.
If you choose a deduction, please enter it here (Method 1):
If you choose a credit (This can only be done in the Forms mode of the Desktop version of TurboTax), please enter it here (Method 2-only if greater than $3000):
Instructions here are specifically for your repayment because it's greater than $3000.
- If method 1 results in less tax, deduct the amount repaid.
- If method 2 results in less tax, claim the credit figured in (3) above on Form 1040, line 71.
If you choose a deduction, please enter it here (Method 1):
If you choose a credit (This can only be done in the Forms mode of the Desktop version of TurboTax), please enter it here (Method 2-only if greater than $3000):
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