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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 (Use With Worksheet 2 or 3), are also supported.

The amounts from these worksheets will transfer 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 enter the amounts in the TaxAct program:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Miscellaneous Topics in the Federal Quick Q&A Topics menu to expand, then click Lump-sum payment of social security benefits.
  3. Continue with the interview process to enter all of the appropriate information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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