Duplicate Deposit of Social Security Check?

Question

I have a Memorized Payee for the deposit of my social security check. It normally is deposited on the 4th of each month and will show up on the Transactions view for one month in advance. This year, my bank (Wachovia) deposited the check on 12/31/09 rather then 1/04/2010. So I had two occurrences of the deposit on the transaction list. I wasn't paying any attention but an automatic overdraft protection deposit from my HELOC yesterday caught my eye.

To resolved this, I deleted the 01/04/2010 deposit from the transaction list so the bank statement and Quicken now agree. However, Form SSA-1099 only reflected 12 payments from SSA which assumed 12 payments on the 4th of each month. Actually, I received 13 payments because of the payment on 12/31/09. This will now screw up my import from quicken to turbotax. I'm thinking now that I should just change the 12/31/2009 deposit to

01/04/2010 so Quicken, Turbotax and Social Security Admin are all in agreement. Any ideas?

CSM1 · Accepted Answer

Arnie Goetchius  wrote in news:hl3tkg$avf$       transaction turbotax. Manually enter the SSA information from the 1099 in TurboTax.Fix the date in your Quicken register to reflect the 12/31/09 deposit. For when it was actually deposited.

JM · Answer

What does your Form SSA-1099 say? - I would follow that lead.

Arnie Goetchius · Answer

SSA-1099 says there were only 12 deposits in 2009. Wachovia says there were 13. Since I assume Wachovia will eventually correct their error, I'll go with the SSA-1099.

Oilcan · Answer

I wouldn't could on it. All they did is made your funds available one day early. Move it to January if it bothers you so much.

Oilcan

-----Orig> >> I have a Memorized Payee for the deposit of my social security check. It

transaction

payment

turbotax.

SSA-1099 says there were only 12 deposits in 2009. Wachovia says there were 13. Since I assume Wachovia will eventually correct their error, I'll go with the SSA-1099.

Route101ÃÂ© · Answer

The SSA-1099 is what goes to the IRS. That's what I'd have Quicken match. In your case your birthday likely is the 1st or 2nd of the month, which is why you get paid sooner (vs. the second Wednesday or later). This year, Jan. 1, a bank holiday, fell on a Friday. Most automatic deposits (e.g., bond interest) did not post till Monday, January 4. Wachovia was nice enough to post a pending payment early for you; however, for tax purposes, SSA will report it as the first of 12 payments in 2010.

Duplicate Deposit of Social Security Check?

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