I received a social security benefit in one lump sum that covered several prior year benefits. Do I need to report this to the IRS?

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Yes, you report this for the year of receipt. However, there is a formula on the bottom of the social security worksheet that gives you a more favorable result.

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I received a social security benefit in one lump sum that covered several prior year benefits. Do I need to report this to the IRS?

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I received a social security benefit in one lump sum that covered several prior year benefits. Do I need to report this to the IRS?

Tax Professional Answers

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