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Lump sum Social security payment

I received a lump sum social security payment covering 2017 and 2018. How can I enter this as TT only provides for one year lump sum.? 

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1 Reply
MarilynG1
Expert Alumni

Lump sum Social security payment

Type 'SSA1099' in the Search window, then 'Jump to SSA1099' to get started.

 

  • Enter the info from your SSA-1099 into TurboTax and Continue
  • The next screen asks if you had any 'lump sum payments'; say Yes and Continue
  • Enter the first lump-sum payment year and amount
  • Click on 'Add Another Lump Sum Payment' until you have entered all the years shown on your 1099.
  • If the Year is not designated prior to 2015, you could use 2014. 
  • You will not be taxed on the lump-sum payments in 2019
  • You will not need to go back and Amend any prior-year returns

You can enter Lump Sum Payments from 1984 through 2018.  Enter $0  if your Social Security income was not taxable for the years you received the Lump Sum Payments, and enter $0 if no Adjustments were made on those years.

 

Click the link for more info on Lump Sum Payments.

 

 

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