To enter information from Form SSA-1099 in TaxAct®:
You will be asked to enter the amount reported in Box 5 of your SSA-1099. This amount is your total net benefits, which is the benefits you received (Box 3) minus any benefits you repaid (Box 4).
Form SSA-1099 (or SSA-1099-SM) shows the total amount of social security benefits you received during the tax year. Social security benefits include monthly retirement, survivor, and disability benefits. They do not include supplemental security income (SSI) payments, which are not taxable and do not need to be reported on your tax return.
If your income is modest, it is likely that none of your social security benefits are taxable. As your gross income increases, a higher percentage of your benefits becomes taxable (up to a maximum of 85% of your total benefits).
The taxable portion of your benefits will vary depending on your other income. TaxAct automatically calculates the taxable amount of your social security income (if any) based on your entries in the program. This calculation is derived from the IRS Social Security Benefits Worksheet.
Taxpayers generally receive Form SSA-1099 in January. If you received social security benefits but were not issued an SSA-1099, you can request a copy from the Social Security Administration. Note that nonresident aliens who received social security benefits are issued Form SSA-1042S instead.
If you receive railroad retirement benefits, they are reported to you on Form RRB-1099. You can enter information from Form RRB-1099 using the steps above. Form RRB-1099 is different than the similarly-named Form RRB-1099-R. See Railroad Retirement - Forms RRB-1099 and RRB-1099-R for more information.