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.
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