Retirement tax questions

Even though you  have attained full retirement age where  your earned income  no longer reduces the benefits received   you do need to enter it  because some of it could be taxable depending on your other income.

 

Information from SSA-1099 is not entered as a W-2 or in the same section as the W-2.  Use these steps to enter your SSA-1099:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
  • This opens a box where you can type in “social security income” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
  • The search results will give you an option to “Jump to social security income
  • Click on the blue “Jump to social security income” link and enter your information

 

 

However, if your only income is from Social Security reported on SSA-1099, then you do not need to file a tax return or register for the stimulus payment.  

 

Social Security recipients will automatically receive their stimulus payment in the same account as where the Social Security benefit is deposited.  

 

Take a look at the following for more information:  IRS -- Economic Impact Payments