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New Member
posted Jun 6, 2019 6:36:16 AM

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?

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2 Replies
Level 15
Jun 6, 2019 6:36:18 AM

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

Alumni
Jun 6, 2019 6:36:19 AM

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).