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February 22, 2021
Question

Are Social Security benefits taxable even though I cancelled benefits and returned the money I received?

  • February 22, 2021
  • 1 reply
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1 reply

February 22, 2021

Yes and no. You still have to report the Social Security benefits as taxable income (the SSA 1099), but you have the ability to either deduct or get tax credit for the amount you repaid.

 

Were these benefits repaid in the same year you received them?