I appllied my retirement benefits in November last year (in 2024) and received the first payment in January this year (in 2025). No SSA-1099 tax form is not available on mySocialSecurity account. Do I need to report my social security amount for my 2024 tax return? If so, how can I report?
There is no Social Security benefits to report on your 2024 tax return as you did not receive them until January 2025.
You should not receive a form SSA-1099 for 2024.
This could have just been when the initial payment was processing on their end, so that it would be delivered to you on 1/2/25.
No, there is no need for you to enter this on your 2024 taxes which we are filing now. It should be included on your SSA-1099 for 2025. We will file the 2025 taxes in 2026.
There is no Social Security benefits to report on your 2024 tax return as you did not receive them until January 2025.
You should not receive a form SSA-1099 for 2024.
Thanks so much for your quick response.
On SocialSecurity account, I found, according to Payment History, the date of the initial payment is indicated as 12/31/2024. But I received it on the bank account on 1/2/2025. And the SSA-1099 is not available. Still no need of this amount for my 2025 tax return? Please advise!
This could have just been when the initial payment was processing on their end, so that it would be delivered to you on 1/2/25.
No, there is no need for you to enter this on your 2024 taxes which we are filing now. It should be included on your SSA-1099 for 2025. We will file the 2025 taxes in 2026.
Slightly different problem. I received a 2024 SSA-1099 for a payment I received in Jan 2025. Is this an error? It was processed through my existing Railroad Retirement account. Should I include this in my 2024 1040?
Yes. Since the income is reported on your SSA-1099 for 2024, it must be included in your tax return. You can always try later to contact SSA for a correction, however it may not be accomplished. If successful you can always amend your return later.