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2018 ssa-1099 shows a lump sum that was taxed in prior years. How do I credit that amount ?

Forum|Forum|7 years ago
June 6, 2019
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SSA-1099 line 5 amount includes funds that were taxed and paid in prior years. Using 2018 Turbo Tax Deluxe, I have entered the prior years amounts as directed and my 2018 taxable obligaion has increased by thousands $$$. Having already paid all taxes due on the lump sum during the years due to all SSA-1099 statements including a setback as taxable, why does the software treat the lump sum as taxable in 2018?

What am I missing?

Thanks

TurboTax Deluxe Windows

Best answer by Coleen3

Because you have to enter more information into the program for it to differentiate the income.

Please see below.

https://ttlc.intuit.com/replies/4767454

C

Coleen3Answer

Employee

Because you have to enter more information into the program for it to differentiate the income.

Please see below.

https://ttlc.intuit.com/replies/4767454

U

ualm7777Author

How do I "However, you might be able to avoid these taxes by apportioning prior year benefits to those previous years’ income (still without filing any amended returns)"

When I entered the amount attributed to 2017 my taxes increased substantially. I paid taxes in 2017 on that amount. Now why am I seeing my taxes increase?