Claiminh Repayment Amount of Long Term Disability

[CherylD00]

Where do I claim my repayment amount of my Long Term Disability carrier on my taxes ? Is it Schedule A, line 16?  

[MinhT1]

This is a claim of right repayment. 

If the repayment is $3,000 or less, it is a miscellaneous itemized deduction and can longer be deducted. 

If the repayment exceeds $3,000, you can only report it in the year you actually repaid the claim.

There are a couple of ways to get a tax break by reporting the repayment in the year of repayment:

• You'll claim it as a simple deduction from the current year's income. This is the preferred option if you itemize your deductions

• Use TurboTax Desktop to figure out the amount of tax you overpaid and take a refundable tax credit

• Test both methods and choose the one that results in the lowest tax.

Please read this TurboTax Help topic for more information.