reporting repayment of prior year overpayment of retirement income

jeff f1 · ‎March 13, 2023

In 2021 Calpers pension income was overpaid due to the death of the participant. The overpayment was repaid in 2022. How to I report the repayment on the 2022 return? There were no other financial transactions in 2022.

MinhT1 · ‎March 13, 2023

This is a claim of right repayment. You can only report it in the year you actually repaid the claim.

If your repayment is less than $3,000, you'll claim it as a Miscellaneous itemized deduction in Schedule A.

If the repayment is more than $3,000, please read this TurboTax Help topic on how to make the claim.

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View solution in original post

MinhT1 · ‎March 13, 2023

This is a claim of right repayment. You can only report it in the year you actually repaid the claim.

If your repayment is less than $3,000, you'll claim it as a Miscellaneous itemized deduction in Schedule A.

If the repayment is more than $3,000, please read this TurboTax Help topic on how to make the claim.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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reporting repayment of prior year overpayment of retirement income