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On form ssa-1099, the amount in box 5 includes the 2015 payment. Should I report 0 for 2015?

At the bottom of the description box the following appears: * Includes $xxxx paid in 2016 for 2015.  If I enter this amount for 2015 wouldn't it increase the earnings in 2016 and possibly add to my taxes?
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Accepted Solutions
AnnetteB
Intuit Alumni

On form ssa-1099, the amount in box 5 includes the 2015 payment. Should I report 0 for 2015?

No, you should not report zero for the 2015 payment.

You should enter the amount as it was reported to you on your form.  There will be a question regarding whether you received a lump-sum payment for a prior year.  Enter the information about that payment there and answer the follow-up questions.  This will let TurboTax determine whether that lump-sum payment would have been taxable in that prior year if it had been received during that year. 

The lump-sum amount will not be included on your 2016 return as if it were 2016 benefits. 

Take a look at the information below for more details.

https://ttlc.intuit.com/replies/4767454


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1 Reply
AnnetteB
Intuit Alumni

On form ssa-1099, the amount in box 5 includes the 2015 payment. Should I report 0 for 2015?

No, you should not report zero for the 2015 payment.

You should enter the amount as it was reported to you on your form.  There will be a question regarding whether you received a lump-sum payment for a prior year.  Enter the information about that payment there and answer the follow-up questions.  This will let TurboTax determine whether that lump-sum payment would have been taxable in that prior year if it had been received during that year. 

The lump-sum amount will not be included on your 2016 return as if it were 2016 benefits. 

Take a look at the information below for more details.

https://ttlc.intuit.com/replies/4767454


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