topic social security underpayments for tax reporting year in Get your taxes done using TurboTax

social security underpayments for tax reporting year

leysotor — Tue, 10 Feb 2026 09:48:38 GMT

are social security underpayments reported as lump-sum payments when filing your taxes?

Re: social security underpayments for tax reporting year

xmasbaby0 — Sat, 20 Jan 2024 17:01:47 GMT

Please explain what you mean by a Social Security "underpayment". Where are you seeing that?

Re: social security underpayments for tax reporting year

leysotor — Sat, 20 Jan 2024 17:29:55 GMT

The amounts are shown down at the bottom of the box labeled "description of amount in box 3" om the SSA-1099. Box 5 Net Benefits for 2023 is equal to box 3 benefits paid amount.

I made the assumption that the amounts were prior years underpayments, not overpayments. If not underpayments, what are these additional amounts for prior years included in the 2023-year benefits?

Thanks for any assistance.

Re: social security underpayments for tax reporting year

Mike9241 — Sat, 20 Jan 2024 20:12:00 GMT

underpayments for prior years would be in box 3. repayments of prior years overpayments would be in box 4 box 5 is the net taxable amiunt