Verojay
Returning Member

Retirement tax questions

Hello! So I got a 1099 for lump

sum-three years worth. I paid back most of it to my insurance company. I believe I found the place to enter that amount paid back-Claim of Right. However I have a few questions. 
1.) when I’m entering the 1099 and lump

sums-it asks if I received benefits in 2019 that were already reported on your 2019 tax return, there will be an amount in box 5 of your Form SSA-1099.

-So I use the full amount for all the lump

sum and not break it up by year? I only received one 1099. 
2.) My sons received 1099’s. My oldest turned 18, when I received them. I assume they don’t file because it was under $15,000 for each son (lump of all years) and also I don’t have to file on mine for them?

 

I’m assuming I just stick to my 1099 and insert exactly what I repaid my insurance company. They deducted lawyer fees on my 1099. I was already taxed on my past disability through my insurance company, so I’m hoping I won’t be taxed anymore. Thank you!