Social Security Benefits – Lump-Sum Payments
The TaxAct program supports the following worksheets for Social Security Benefits. These worksheets are used to calculate your taxable social security benefits.
- Worksheet 1 – Figuring Your Taxable Benefits from IRS Publication 915
- Worksheet 2 – Figure Your Additional Taxable Benefits (From a Lump-Sum Payment for a Year After 1993)
- Worksheet 4 – Figure Your Taxable Benefits Under the Lump-Sum Election Method (Use With Worksheet 2 or 3)
The TaxAct program transfers the amounts from the worksheets to Form 1040 U.S. Individual Tax Return, Lines 6a and 6b, for the taxable amount of social security benefits from lump-sum payments.
To complete worksheets 1, 2, and 4 in the TaxAct program, follow the steps below.
Online
Dashboard
- From within your TaxAct return, click Resources.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Under My Return, click Federal Search.
- Click the Miscellaneous Topics drop-down, then click Lump-sum payment of social security benefits.
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Miscellaneous Topics drop-down, then click Lump-sum payment of social security benefits.
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Miscellaneous Topics drop-down, then click Lump-sum payment of social security benefits.
- Complete the rest of the interview process.