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Lump-Sum Social Security Summary Question

Received a lump sum in 2017 from SS for a one time payment. Amount was already included and taxed in 2017, Why am I being taxed again??

 

Inputted the info into Turbotax  for the year 2017.

 

But under the Lump-Sum Social Security Summary for 2017, it show the following.

Amount Received in 2017 - My total SS Benefit for the year

Amount Received in 2019 - My Lump Sum Payment in 2017

 

Is this an error???

 

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2 Replies
rjs
Level 15
Level 15

Lump-Sum Social Security Summary Question

Please clarify your situation.


Are you working on your 2017 tax return or your 2019 tax return?


If you are working on your 2019 tax return, do you have a Form SSA-1099 for 2019?


On your SSA-1099 for 2019, at the bottom on the left side does it show a payment in 2019 FOR 2017?


On your 2019 tax return you only report payments that you received IN 2019. TurboTax asked whether you received a lump-sum Social Security payment IN 2019 FOR a prior year. You do not report a payment that you received IN 2017 on your 2019 tax return.


If you did not receive any Social Security benefits in 2019, and you do not have an SSA-1099 for 2019, you do not enter ANY Social Security income in your 2019 tax return. If you did receive Social Security benefits in 2019, but on your SSA-1099 for 2019 there is no payment for a prior year at the bottom left, you do not report a lump-sum payment on your 2019 tax return. In this case, all the benefits that you received in 2019 were FOR 2019.

 

Lump-Sum Social Security Summary Question

Question asked was too general in the software package. It should state "did you received a prior year lump sum payment for the year 2019". 

 

Thank you!

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