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satocummings
New Member

TT Premier desktop doesn't allow me to enter a credit on Sched 3 line 13z. How can I manually enter a credit on that form (for repayment of Soc Sec benefits)?

I have determined that I should take the credit (and not the deduction). I received and reported the SS income in 2020. I repaid the income in 2021.
2 Replies
DaveF1006
Expert Alumni

TT Premier desktop doesn't allow me to enter a credit on Sched 3 line 13z. How can I manually enter a credit on that form (for repayment of Soc Sec benefits)?

Yes, please read this awesome Turbo Tax post written by Critter. In this post, Critter explains in detail how to claim the credit.

 

1.      "Figure your tax without deducting the repaid amount.

2.      Refigure your tax from the earlier year without including the income that you had to repaid.

3.      Subtract the tax calculated  in (2) from the tax shown on your return for the earlier year. This is the credit.

4.      This is the flow in TurboTax (This can only be done in the Forms mode of the Desktop version of          

         TurboTax.

5.      Go to FORMS (top right of main screen) > Form 1040 > Scroll below line 72 to "Other Payments and 

         Credits Smart worksheet.         
6.      Please enter the credit on line D. 
7.      This credit should show up on Form 1040 line 73
8.      Here is a link to the IRS website for your reference," http://www.irs.gov/publications/p525/ar02.html#en_US_2014_publink1000229605

 

Claiming a credit is more difficult than claiming a deduction but is worth it if done correctly.

 

 

 

 

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satocummings
New Member

TT Premier desktop doesn't allow me to enter a credit on Sched 3 line 13z. How can I manually enter a credit on that form (for repayment of Soc Sec benefits)?

Thank you for the quick reply! My mistake was trying to edit the Schedule 3 itself instead of using the Smart Workshert to make the entry. Once I did that the credit transferred to both the Schedule 3 and the 1040. Thank you very much!!

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