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cross526
New Member

SSI reward lump sum for past years

I received a lump sum SSI payment in 2018 for an award from Social Security won in September 2017 after a 9 year fight to get my benefits. When I received my SSA1099 it broke the it down for the first for years and 5 years were lumped together  with the a sum. When using Turbo tax it wants you to break down the award by years. I can do for the first 4 years but how am I to list the the remaining years that were lumped together.

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4 Replies

SSI reward lump sum for past years

Just one question  ... is the SS benefit the only income you had in 2019?   If so you do not need to file a return at all.    

 

If not then did you have any income in those  prior years ? 

 

cross526
New Member

SSI reward lump sum for past years

No, I had income for pretty much all the past years. My problem is that Social Security only broke in income down for 2014- 2017 for the remaining years lumped it all together in one sum of 83k, which does not work for turbo tax they need broke down by year. I also didn't  receive what they stated in box 5 either. They held back money and the court paid the lawyers for my case

Hal_Al
Level 15

SSI reward lump sum for past years

You probably want to pay someone to do your taxes this year.

TurboTax can handle it, but you really need to know what you're doing.  Essentially, you re-calculate your tax  on all previous years, as if your had gotten the SS money, in the proper year, then you claim a credit for the difference in the tax calculated for 2019, with the lump sum. 

SSI reward lump sum for past years

Since you had income each year if your SS is going to be 85% taxable anyway you can skip entering in all those undivided years as it will not really make a difference ... however the repayment issue will need professional assistance if you want to take it into consideration.  

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