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$$ amount for SSA 1099

correct $$ SA1099 $22993.00
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2 Replies

$$ amount for SSA 1099

What is your question?   We cannot see your screen or your tax return.   Are you trying to figure out where to enter your SSA1099?

 

Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter your SSA1099.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
ColeenD3
Expert Alumni

$$ amount for SSA 1099

What is your question? Did you receive multiple years reported on your 2021 SSA-1099? 

You have the choice of paying tax on the entire amount in 2021 or treating each payment as if it had been paid in the year it should have been. You will still pay the tax now, but it could save you some money.

 

This is simply a one-time Social Security payment that you received for prior-year benefits. This is called a lump-sum payment. When someone is granted disability benefits, for example, they will receive a lump sum to cover the entire time since they first applied for disability; this period could cover months or years.

 

After you enter your SSA-1099 information, TurboTax will ask if you received a lump-sum Social Security payment. If you didn't receive one, just answer No and move on.

 

Otherwise, answer Yes and follow the onscreen instructions. Your SSA-1099 lump-sum section breaks down the payments into what amount was received for each preceding year. You can only enter one year at a time; when finished, click Add Another Lump Sum if you need to enter benefits received for a different tax year.

 

While your lump sum may include benefit payments for more than one year, you do not have to file an amended tax return for any prior year. 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). 

 

After you enter your lump-sum Social Security payment information, TurboTax will automatically figure out what if any taxes you owe due to the lump-sum payment.  

 


 

 

 

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