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Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 12486
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I have received a statement reinbursement of benefit

Customer Question

I have received a statement for a reinbursement of benefit paid during a previous year.
This is for a deceased person my mother ( I am the executor of her estate) She died in
2013. Where do I make a claim for the excess of refunds made over benefits received in the
tax year.
Submitted: 2 years ago.
Category: Tax
Expert:  Lane replied 2 years ago.
Hi, This is called a claim of right under IRC section 1341.YOu must go back and calculate the taxes for the previous year as if the income were NOT there.And if this amount is more than $3000, the difference between the lax liability (total tax on line 63 of the 1040) for (1) the actual return filed and (2) the re-calculated tax with the income not there can be take as a credit on line 73 (box D) of the form 1040
Expert:  Lane replied 2 years ago.
Have I understood your questoin correctly? That she is due a refind on her last return because benfits had to be repaid?
Customer: replied 2 years ago.
She did not receive any further benefits upon her death. Both Federal and Provincial were notified immediately when she died.
Expert:  Lane replied 2 years ago.
An old age security (OAS) repayment. Tax may have been withheld from your OAS benefits. The amount deducted is included in box 22 of your T4(OAS) slip. Claim this amount on line 437;