SSA-1099 a lump $35,768, but includes $10,520 for 2015. I'm not the brightest so you gotta explain in 5th grade words. OR, does tt do all the work for me? - Many Thanks!

[Hal_Al · Accepted solution]

Taxes are too complicated and convoluted for 5th grade words. But, TT does all the work for you.

After entering the SSA-1099, the interview will ask if there is a prior year lump sum payment.

The lump sum payment is taxable in the year received (2016); but the tax is calculated as if the payment had been received in the prior year. So, the interview will have questions about your 2015 return. Have a copy handy before you start.