Social Security benefits - will SSA send me a tax form for filing?
This might be a dumb question, but I started receiving my Social Security retirement benefits in August 2024 and I'm confused about tax filing for next year. Will the SSA mail me a W-2 form like my employer used to? Or do they send some other kind of tax document? I've never had to report SS income before and want to make sure I have everything ready when tax season comes around. I'm planning to work part-time next year too, so I'll need to report both income sources correctly.
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Nia Wilson
Social Security doesn't send W-2 forms. They send what's called a Form SSA-1099 (Social Security Benefit Statement) that shows the total benefits you received during the tax year. These are typically mailed by January 31st each year. You'll use this form to determine if your benefits are taxable - which depends on your combined income. Up to 85% of your benefits might be taxable if your income is high enough.
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Luca Russo
•Thank you! That's exactly what I needed to know. Will they automatically mail this SSA-1099 to my address on file or do I need to request it somehow?
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Mateo Sanchez
You should also know that you might need to pay quarterly estimated taxes on your SS benefits depending on your total income. I didn't know this when I first started receiving benefits and got hit with an underpayment penalty! The IRS doesn't automatically withhold taxes from SS payments unless you specifically request it by filing a W-4V form.
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Luca Russo
•Oh wow, I had no idea about quarterly taxes or that form. I definitely don't want to pay penalties! How do I figure out if I need to do this?
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Aisha Mahmood
To add to what others said, if you don't receive your SSA-1099 by early February, you can request a replacement through your my Social Security account online at ssa.gov. You can also call the SSA to request one, but good luck actually getting through to a person - their phone lines are constantly jammed. You can also calculate if you want tax withholding from your benefits by using the IRS calculator and then submit form W-4V if you decide you want withholding.
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Ethan Clark
•The phone situation with SSA is ridiculous these days. I needed to talk to someone about my own tax withholding issue last month and kept getting disconnected after waiting on hold for over an hour. I finally used Claimyr.com to get through - they connected me with an agent in about 20 minutes. They have a demo video at https://youtu.be/Z-BRbJw3puU that shows how it works. Totally worth it since I needed to get my withholding set up before the end of the year.
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AstroAce
i get ss disability not retirement but its the same form. they always mail it early january for me, never had to request it. but you can also see and print it online if you set up mySocialSecurity account. thats easier then waiting for mail
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Luca Russo
•Thanks for mentioning the online option! I do have a mySocialSecurity account so I'll check there first. Seems easier than dealing with paper forms.
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Yuki Kobayashi
Remember if your only income is Social Security you probably don't even need to file taxes! Lots of retirees with just SS income don't have to file at all. But since you mentioned working part-time, you'll probably need to file. Just thought I'd mention it though.
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Carmen Vega
•THIS IS NOT COMPLETELY CORRECT!! Whether you have to file depends on your TOTAL income and filing status, not just whether SS is your only income! My sister thought the same thing and got in trouble with the IRS. If your combined income (adjusted gross income + nontaxable interest + half of SS benefits) exceeds certain thresholds then your benefits become taxable. For a single person it's $25,000 and for married filing jointly it's $32,000. DON'T JUST ASSUME YOU DON'T NEED TO FILE!!
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Andre Rousseau
When I started getting my SS benefits last year, I was also confused about the tax situation. One thing I didn't realize is that the SSA-1099 won't show up until NEXT January (January 2025) for benefits you received in 2024. So you won't get anything from them this calendar year. The form will cover all benefits you received from August through December 2024.
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Luca Russo
•That makes sense, thanks for clarifying! So I'll get my first SSA-1099 in January for the partial year of benefits I received in 2024. Good to know what to expect.
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Carmen Vega
You might want to talk to a tax professional if this is your first year with both work income and Social Security. The calculations can get complicated, especially with the earned income thresholds if you're under full retirement age. I'm 63 and still working part-time, and I had to pay back some benefits last year because I earned too much. The limit for 2024 is $21,240 if you're under FRA.
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Nia Wilson
•That's an excellent point about the earnings test. For those under Full Retirement Age, SSA reduces benefits by $1 for every $2 earned over the annual limit ($21,240 in 2024). But importantly, this isn't a tax - it's a benefit withholding. The month you reach your Full Retirement Age, the reduction changes to $1 for every $3 over a higher limit ($56,520 in 2024), and once you're at FRA, there's no reduction regardless of earnings.
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Zoe Stavros
Didn't see it mentioned but don't forget about STATE taxes too! Some states tax Social Security and some don't. I moved from Minnesota to Florida partly because MN taxes SS benefits and FL doesn't. Smart to check your state rules!
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Luca Russo
•I hadn't even thought about state taxes! I'm in Colorado - I'll need to check if they tax Social Security benefits. This is getting complicated pretty quickly...
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