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-   -   Taxs on over paid social security (https://www.askmehelpdesk.com/showthread.php?t=545571)

  • Jan 18, 2011, 11:05 PM
    tableclocks
    Taxs on over paid social security
    I made 30,000 at work.. I got 20,000 in SS... I will have to pay back about 8,000 because of... 70.000 AGI because of wife working
    I will have to pay that back in 2011... about 8,000... however... on my 1040 I paid taxs on the relament annount of 20,000 SS.. even though 8,000 of it getting paid back... so how do I get a credit for the tax paid on the 8,000 I pay back in 2011?
  • Jan 19, 2011, 12:11 PM
    MukatA

    On your Form 1040, you will report SS benefits on line 20a and taxable SS benefits on line 20b. For figuring your taxable benefits, read page 27 of instructions to Form 1040.
    That is you settle this with your 2010 return and not in 2011.
  • Jan 19, 2011, 12:20 PM
    tableclocks
    I will being paying tax on part of my SS... about 10,000 of it... based on the fact that I receiver 20,000 in SS... but of that 20,000 I will have to pay back about 8,000... because I made over the limi of 14,160... so how or when do I get a credit back from paying on about 10,000 in stead of about 2,000 tks... richard
  • Jan 19, 2011, 12:47 PM
    tableclocks
    Comment on MukatA's post
    Please look at same but updated question... tks... richard
  • Jan 19, 2011, 12:56 PM
    tableclocks
    Please read new updated question... tks... richard

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