I assume you mean tax year 2024, NOT 2023 in your final paragraph?!
Also, I used TurboTax with a Full Service Tax Expert crunching the numbers while provided the information. I specifically told him to look at this option and if more advantageous, rather than the standard 85% in our case to use it. We got a lump sum from 2024 shown on our SSA-1099. I had to guide him to where that amount was shown on those documents (never mind he was the “expert” CPA with 50 years experience!) and I have to assume he did that. My 1040-SR was filed and accepted on February 25, 2026 and since it seems to be a done deal, I have no way of contacting him once I pay my TT fee and the return is submitted! Why? Because the chat function is automatically disabled!
I need to know if he’s made a mistake on my return with regards to SS lump sums.
Here’s the issue. Line 6a shows total SS as 40,321 (including those lump sums for 2024). Line 6b shows taxable amount as 34,273 (.85 x 40,321). Yet, he has checked Line 6c as X, meaning elected to use the lump sum method! Correct me if I’m wrong, but isn’t the rule that you should use lump sum method if and only if, it gives you a lower tax liabity than the 85% method?
having filed an 85% for our taxable SS then checking the lump sum box is bound to raise a red flag, no? Unless I’m missing something. It’s very frustrating not being able to contact my TurboTax expert …..
