Social Security six month look back including the months of Sept/Oct/Nov/Dec'23. Should these dollars be included as 2024 income for Federal tax purposes?
You'll need to sign in or create an account to connect with an expert.
What six month lookback are you referring to? What are you trying to do? Each year Social Security sends you a SSA1099 for the benefits you received during the tax year. (January 2024 through December 2024). Each tax year is separate.
Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.
Working on an estimate of my tax liability for 2024. Looking to understand if all of the Social Security lookback that I received in 2024 is subject to 2024 since 4 of the six months of the lookback included the months of Sept / Oct / Nov / Dec'23.
Hello, JT107!
The Social Security Administration (SSA) allows up to six months of retroactive Social Security benefits to be paid in a lump sum to those who delay filing for retirement benefits past their full retirement age. This means that the recipient's Social Security start date and monthly benefit amount are rolled back by six months. (In certain cases, benefits involving disability up to 12 months may be paid retroactively.)
To receive retroactive benefits, you must:
Some factors to consider when deciding whether to take retroactive benefits include:
In general one is entitled to benefits beginning the first month in the retroactive period that you meet all requirements for the entitlement of your benefits. For example, suppose you reach full retirement age in March 2024 and for some reason you do not file an application for retirement insurance benefits until March, 2025. In this case, you may be entitled retroactively beginning with the month of September 2024 (six months before you filed an application).
For additional information see:
Please feel free to reach backout with any additional questions or concerns you might have!
Have an amazing rest of your day!
*Please say "Thanks," by clicking the thumbs up icon at the bottom of the post.
**Select the post that answers your question by clicking on "Mark as Best Answer.”
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
davidpervin
New Member
Raph
Community Manager
Raph
Community Manager
Raph
Community Manager
Raph
Community Manager
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.