Hi,
I got around to doing my taxes and I have some follow up questions on this topic. I received an SSA-1099 and the total income reported includes the lump which was for a prior year. The SSA-1099 indicated the amount of the income that is for last year.
My questions are:
1). Do I indicated the total amount of the SSA-1099 on this years taxes? Or do I subtract last years amount from the total and recalculate last year using this figure?
2). If I include the total amount this year (pay tax on the total amount this year). I assume I do not include that amount in last years taxes when I figure my ‘right of claim’? (If I include that, I would be paying tax on it twice...)
