Ssa1099 lump sum for a previous year included. Can I enter it all on 2017? Do I need to amend 2016 or will it be taken care of on 2017 return?

epfortmiller · ‎June 6, 2019

DoninGA · ‎June 6, 2019

If the lump sum payment is shown on the SSA-1099 for 2017 the TurboTax program will ask about lump sum payments when you enter the SSA-1099

ScruffyCurmudgeon · ‎June 6, 2019

Almost all taxpayers are calendar year filers and cash-basis - not accrual. You report income and expenditures in the year the transaction occurred.

Payments for income of prior years but received in a following year are reported in the year received. This should be represented in the SSA-1099 that you have received (yes, they are already sent).

If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67

NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.

Expert does your taxes

Do it yourself

Resources

Support

Ssa1099 lump sum for a previous year included. Can I enter it all on 2017? Do I need to amend 2016 or will it be taken care of on 2017 return?