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February 21, 2025
Question

I received a retroactive lump sum, where do I claim it on my taxes?

  • February 21, 2025
  • 2 replies
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    2 replies

    February 21, 2025

    Please clarify is this a lump-sum Social Security payment

    February 21, 2025

    If this is a Social Security payment, to claim a retroactive lump sum in TurboTax, follow these steps:

    1. Be sure you are logged  into Turbo Tax for link below to work
    2. Click on Enter your SSA-1099 information.
    3. After you enter your SSA-1099 information, we'll ask if you received a lump-sum Social Security payment. If you didn't receive one, answer, No and move on.
    4. If you did, answer Yes and follow the instructions. Your SSA-1099 lump-sum section breaks down the payments into what amount was received for each preceding year. 
    5. You can only enter one year at a time. If you need to enter benefits received for a different tax year, select Add another lump-sum payment.

     

    For more details, you can check out this TurboTax guide