Employee Tax Expert

Retirement tax questions

It depends.  For a lump-sum SS distribution, there are two ways of figuring out the taxability of the distribution.  The first method is to include the whole distribution as reportable this year.  If reporting it this year does not increase your tax liability, go ahead and use that method.  It's easier.  However, there is another way, which is to figure out how much tax you would have paid in each separate year that distributions would have been received, but no amended return for a prior year is needed. To enter the lump sum (amounts you will enter manually), follow the instructions in this FAQ:  https://ttlc.intuit.com/replies/4767454

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