Lump Sum Election
I got a lump sum ssa disb. payment in 2011 in the amount of 50,000. Of the 50,000, 2,000 was for 2008 and 16,000 was for 2009. I have a question about worksheet #2 for the lump sum election. I know I have to fill out a worksheet#2 for 2008 and 2009. On worksheet #2, question #1 it says: Enter the total amount from box 5 of ALL your Forms SSA-1099 and RRB-1099 for the earlier year, plus the lump-sum payment for the earlier year received after that year. When I fill out for 2008 do i put 2,000 or 18,000(2,000+16,000)????
Also on worksheet #2, question #20 says: Enter your taxable benefits for the earlier year (or as refigured due to a previous lump-sum payment for the year) What does this mean??
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