MarilynG1
Expert Alumni

Retirement tax questions

@wroyce Click this link for more info on Entering Lump Sum Payments from Social Security.

 

You might need to pay taxes on a small portion of your lump-sum payment. However, you might be able to avoid these taxes by apportioning prior year benefits to those previous years’ income (still without filing any amended returns).

 

TurboTax will guide you in entering this info. 

 

 

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