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qbmother
New Member

How do I report "Miscellaneous Taxable Income Repayments". Publication 525?

 
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3 Replies
JohnB5677
Expert Alumni

How do I report "Miscellaneous Taxable Income Repayments". Publication 525?

Please clarify.  I'm not sure what "Miscellaneous Taxable Income Repayments" are.  Do you mean Employee Compensation?

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lynfordd
New Member

How do I report "Miscellaneous Taxable Income Repayments". Publication 525?

On the SS SSA it includes a 37,617.33  payment that I had to repay to the Disability Insurance company for the money they already had paid me . So wen my disability was approved I returned the money to them.

Do I report  the repayment? 

HelenC12
Expert Alumni

How do I report "Miscellaneous Taxable Income Repayments". Publication 525?

Yes, you report the repayment. If your SSA-1099 has a negative number in box 5, enter the amount as a miscellaneous deduction on Schedule A by following these steps:

  1. In TurboTax, select Federal on the left side menu.
  2. Select Deductions & Credits on the top of the screen.
  3. Scroll down to the Other Deductions and Credits section and click on the Start/Revisit box next to Other Deductible Expenses.  
  4. On the Did you have any of these less common expenses? screen,  select Yes if the Repayments of $3,000 or less, otherwise select No.
  5. On the Did you have any of these less common expenses? screen, select Yes.
  6. Enter the information on the Tell us about your less common expenses screen.
  7. Continue with the onscreen interview until complete.

 

Source: IreneS

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