SSA-1099

[TigerSleeve]

I received an SSA-1099 form from the Fed.

Box 5 has an amount for the Net Benefits received in 2021.

Box 3 has the same amount as Box 5.

The breakout Description has the Paid/Medicare Part B/Attorney Fees/Voluntary FIT withheld - plus an include statement for paid in 2018/2019/2020.

I have tried entering the amounts in various ways - and still can't get it to work. TurboTax totals for the SSA-1099 don't match up and there is no place to put the amount for 2021.

[DawnC · Accepted solution]

To report a lump sum SSA-1099, follow the instructions in this link - How to report a lump sum SS payment - Answer YES when asked if you received a lump sum payment.     This will ensure you are taxed correctly for the amounts on your SSA-1099. 

[TigerSleeve]

Thank you - even tough I still have to pay taxes this year I don't have to refile any previous years (whew) and the amount is about 60% less than what I was thinking.