Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-01-2009, 11:14 PM
Junior Member
 
Join Date: Mar 2009
Posts: 1
Repayment of disability benefit

My uncle had cancer operation in 2008. In 2008, he received W2 from Prudential Insurance (a third party administrator of benefit for his company he worked for) for sick pay of $13k while he was out on medical leave. He is 63 yrs old in 2008. Later in late 2008, he filed and also received social security. During Dec-08, Prudential notified him that he was overpaid and so they took $5k out of his bank account in Jan 7th, 2009 but his W2 was not corrected. Can I report the $5k of repayment of benefit in 2008 tax return on Schedule C as other expense or please help on where else in the 2008 tax return can I report this $5K they took from him ?

Any help is appreciated



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Death Benefit from Long Term Disability Taxable? Coadysmom Income 3 08-18-2011 12:14 PM
Student Loan Repayment reported on 1099. Two years on 2008... TX Ciclista Income 0 01-29-2009 08:57 PM
Child on Disability in California 89alumni Income 1 01-11-2009 11:49 PM
Will disability income paid from a pension plan be taxed in South Carolina? TaxGuru South Carolina 0 10-15-2008 11:26 PM
What is the tax benefit(s) for a C Corporation to pursue an employee’s loan repayment henrybobo C-Corporation 0 07-24-2008 02:39 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.