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TaxAct® supports Worksheet 1 Figuring Your Taxable Benefits from IRS Publication 915 Social Security and Equivalent Railroad Retirement Benefits, and calculates your taxable social security benefits for you from the information you have entered in the program.

Worksheet 2, Figure Your Additional Taxable Benefits (From a Lump-Sum Payment for a Year After 1993) and Worksheet 4, Figure Your Taxable Benefits Under the Lump-Sum Election Method, are also supported.

To enter the amounts in the TaxAct Program which will transfer to Lines 20a and 20b of IRS Form 1040 U.S. Individual Income Tax Return for taxable amount of social security benefits from lump-sum Payments:
  1. From within your TaxAct return (Online or Desktop), click on the Federal tab. On smaller devices, click in the upper left-hand corner, then select Federal.
  2. Click Miscellaneous Topics in the middle of the screen to expand the category and then click Lump-sum payment of social security benefits
  3. The program will proceed with the interview questions for you to enter or review the appropriate information


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