Know them. This is the total amount of Part B, Part C, and/or Part D Medicare premiums deducted from your railroad retirement annuity payments shown on your Form RRB-1042S. The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Columbiaeven if you don't live in the District of Columbia. If both methods produce the same tax, deduct the repayment on Schedule A (Form 1040), line 16. This entry shows nontaxable payments such as lump-sum death payments. These forms will also show the tax rate and the amount of tax withheld from your benefits. If your SSN has been lost or stolen or you suspect youre a victim of tax-related identity theft, you can learn what steps you should take. Summary: This example shows a blank Form SSA-1099 (2022) as described in the text. Go to IRS.gov/Payments for information on how to make a payment using any of the following options. .Check the box on line 6c if you elect to use the lump-sum election method for your benefits. TAS has offices in every state, the District of Columbia, and Puerto Rico. 939, General Rule for Pensions and Annuities. If parentheses are around the figure in box 5, it means that the figure in box 4 is larger than the figure in box 3. Please click here for the text description of the image. In addition, an amount may have been withheld from your benefits to recover an overpayment incurred by someone else who is also receiving benefits under your claim number. . For more information on the Offer in Compromise program, go to IRS.gov/OIC. Worksheet 3, Figure Your Additional Taxable Benefits (From a Lump-Sum Payment for a Year Before 1994). 15.30% ; 15.30% . Use the Offer in Compromise Pre-Qualifier to see if you can settle your tax debt for less than the full amount you owe. The figure in box 10 includes any lump-sum benefit payment you received in 2022 that is for an earlier year after 1983. If you file a federal tax return as an "individual" and your combined income is: Between $25,000 and $34,000: You may have to pay income tax on up to 50% of your benefits. Forms SSA-1042S and RRB-1042S, for nonresident aliens, contain the same items plus a few additional ones.
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