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I recieved a lump sump payment in 2017 for year 2016. Do I use this for tax year 2018

do I include a lump sum from social security in 2017 for year 2016 on my 2018 return?

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JohnW15
Intuit Alumni

I recieved a lump sump payment in 2017 for year 2016. Do I use this for tax year 2018

If you received this lump-sum payment in 2017, it needs to be included on your 2017 return; if received in 2018, it needs to be included on your 2018 return.

I've attached two TurboTax FAQs:  one regarding the lump-sum payment reporting procedure, and one relating to amending your return, in the event that you need to amend your 2017 return to report the lump-sum transactions.

What is a lump-sum Social Security payment?

How to amend (change or correct) a return you already filed

https://ttlc.intuit.com/replies/3288565



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1 Reply
JohnW15
Intuit Alumni

I recieved a lump sump payment in 2017 for year 2016. Do I use this for tax year 2018

If you received this lump-sum payment in 2017, it needs to be included on your 2017 return; if received in 2018, it needs to be included on your 2018 return.

I've attached two TurboTax FAQs:  one regarding the lump-sum payment reporting procedure, and one relating to amending your return, in the event that you need to amend your 2017 return to report the lump-sum transactions.

What is a lump-sum Social Security payment?

How to amend (change or correct) a return you already filed

https://ttlc.intuit.com/replies/3288565



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