My wife and I received our 2020 SSA-1099. At the bottom of BOX 3, there is an asterisk * statement:
*Includes $1000.00 paid in 2020 for 2019
Do I have to go back to 2019 tax to amend the 2019 amount I received in 2020 for 2019? Or should I just include the amount in my 2020 taxes?
No, you do not amend your 2019 for the payments made in 2020 for 2019.
You can't amend returns for prior years to reflect social security benefits received in a single lump-sum in the current year. You must include the taxable part of a lump-sum payment of benefits received in the current year (reported to you on Form SSA-1099, Social Security Benefit Statement) in your current year's income, even if the payment includes benefits for an earlier year.
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