Now that it’s March, your annual tax filing deadline is fast approaching. If you receive Social Security benefits, one of the documents you need to file your federal income tax return is your Social Security Benefit Statement (Form SSA-1099/1042S).
Your Social Security benefits may be taxable. This includes monthly retirement, survivor, and disability benefits. About one-third of people receiving Social Security benefits must pay taxes on some of these benefits, depending on the amount of their taxable income. This usually happens if you have other substantial income — such as wages, self-employment, interest, dividends, and other taxable income that must be reported on your tax return — in addition to your Social Security benefits. You will never have to pay taxes on more than 85 percent of your Social Security benefits, based on Internal Revenue Service (IRS) rules.
To find out if you must pay taxes on your benefits, you will need your Social Security Benefit Statement (Form SSA-1099/1042S). You should automatically receive it in the mail each January. It shows the total amount of benefits you received from Social Security in the previous year so you know how much Social Security income to report to the IRS on your tax return. The benefit statement is not available for people who receive Supplemental Security Income (SSI), as SSI payments are not taxable.
Whether you file your taxes early or wait until the deadline, Social Security makes it easy to obtain a replacement benefit statement if you didn’t receive one or misplaced it. You can get an instant replacement easily by using your secure online my Social Security account. If you don’t already have an account, you can create one in minutes. Follow the link below to the my Social Security page, and select “Sign In or Create an Account.” Once you are logged in, select the “Replacement Documents” tab to obtain your replacement 1099 or 1042S benefit statement. You can also use your personal my Social Security account to keep track of your earnings each year, manage your benefits, and more.
You can also obtain a replacement benefit statement by calling us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m., or by contacting your local Social Security Office. If you live outside of the United States, please contact your nearest U.S. Embassy or Consulate. But by going online you can print your replacement benefit statement immediately and not have to wait to receive it in the mail.
With a my Social Security account, gathering your Social Security information for tax season has never been easier. Open your own personal my Social Security account today at www.socialsecurity.gov/myaccount.
Marcus Geiger is Social Security district manager in Gallipolis, Ohio.