65 years old with wages in excess of Social Security allowable. I will have to pay back SS excess received, which reduces my total income for the year. How it this done?

[halversondr]

I will have to repay part of the SS allowance I received in 2018 (based on the wages I received that are above the amount that SS allows, 1$ for ever $2 earned above the limit).  I have not received the letter stating how much I will have to repay, but my SS rep states that it will come.This effectively reduces my taxable income.  Will I have to file an amended return or is that something I will deduct from the 2019 taxes next year?

[KatrinaB · Accepted solution]

The repayment of social security benefits is claimed in the year you repay the benefits. The amount you repay will be listed in box 4 of Form SSA-1099 in 2019. All you will need to do is enter your form into TurboTax and the repayment amount will already been been subtracted. 

Please view page 5, IRS Publication 915 for more information.

https://www.irs.gov/pub/irs-pdf/p915.pdf