Government pension offset

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  • #71072
    marksr
    Participant

    Greetings,
    My wife retired from her job and receives an OSERS pension. She was receiving Social Security her last few months working at $823 per month. When she started drawing her pension that monthly social security benefit was(or should have been) reduced down to $371 per month. The problem was they continued paying her the $823 per month through June 2021 (12 months of notification and calls that she was drawing her pension and there response is “we show that it has been reported and is being worked on).
    We now need to pay back those overpayments. I am planning on writing a check for the full amount.
    My question is do I need to completely redo my taxes for 2020 or is there a way I can deduct the 2020 payment back to Social Security on the 2021 tax return at the end of this year.
    Thanks for any responses
    Mark

    #71073
    Kaye Thomas
    Moderator

    The repayment will be handled on your 2021 tax return. For details, see page 5 of IRS Publication 915 (PDF available here).

    #71075
    smileysr
    Participant

    Thanks for your help and getting me headed in the right direction!
    Mark

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