Earlier Year Lump-Sum Social Security Ws (2016) :Earlier yr txbl SS ben TP should not be greater than zero worksheet asks for Form 1040 line 20b which for me is $8,558.

MESSAGE FROM Turotax: Earlier year lump-sum Social Security Ws (2016): earlier year taxable ben-TP should not be greater than zero

BUT line D says "Enter taxable social security benefits reported in the earlier year Form 1040 line 20b. On my 2016 federal return this number is $8,558

This number, 8558 shows in red.  What am I supposed to enter here?

Answer

1 person found this helpful

How did you file in the earlier year and this year?  Married joint in both?  if you are the taxpayer in the prior and current year, meaning the one whose name is first on the return, then the social security that was taxable in the prior year would all have been the spouse's so yours would be zero.  You, the taxpayer, would not be receiving a lump sum for that prior year if you had been receiving social security already in the prior year.

Was this answer helpful? Yes No
Default user avatars original
TurboTax TaxPro

No answers have been posted

More Actions

People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community
Default