social security lump sum

Forum|Forum|2 years ago
February 4, 2024
2 replies
0 views

Why am I being asked by Turbo Tax about a social security lump sum payment for the current year or earlier?!!! and will I be asked that every year? I received a lump sum payout in 2020 which I declared and paid taxes on in that tax year already!

xmasbaby0

Level 15

The screen is always going to ask that question. If you did not receive a lump sum in 2023, you say no to the question or skip it and keep going.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

DoninGA

Level 15

The TurboTax program has no way to know if and when you received a lump sum payment for the current tax year. That is why the question is asked of everyone who completes a Form SSA-1099. Just answer NO and continue if you did nor receive a lump sum payment in 2023 for your SS benefits.