Publication 915 - Social Security And Equivalent Railroad Retirement Benefits - Internal Revenue Service - 2001 Page 13
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28Example. Jane Jackson
Filled-in Worksheet 4. Figure Your Taxable Benefits Under the Lump-Sum Election
Method (Use With Worksheet 2 or 3)
Complete Worksheet 1 and Worksheets 2 and 3 as appropr iate before completing this worksheet.
1.
Enter the total amount from box 5 of ALL your Forms SSA–1099 for 2001, minus the
9,000
lump-sum payment for years before 2001
1.
Note: If line 1 is zero or less, enter zero on lines 2 and 11 and skip
lines 3 through 10. Otherwise, go on to line 2.
4,500
Enter one-half of line 1
2.
2.
25,500
Enter the amount from line 3 of Worksheet 1
3.
3.
-0-
Enter the amount from line 4 of Worksheet 1
4.
4.
30,000
Add lines 2, 3, and 4
5.
5.
-0-
Enter the amount from line 6 of Worksheet 1
6.
6.
30,000
Subtract line 6 from line 5
7.
7.
25,000
Enter the amount from line 8 of Worksheet 1
8.
8.
5,000
Subtract line 8 from line 7. If zero or less, enter -0-
9.
9.
Note: If line 9 is zero or less, skip lines 10 through 17 and enter -0- on line 18.
Otherwise, go on to line 10.
9,000
10.
Enter the amount from line 10 of Worksheet 1
10.
-0-
11.
Subtract line 10 from line 9. If zero or less, enter -0-
11.
5,000
12.
Enter the smaller of line 9 or line 10
12.
2,500
13.
Enter one-half of line 12
13.
2,500
14.
Enter the smaller of line 2 or line 13
14.
-0-
15.
Multiply line 11 by 85% (.85). If line 11 is zero, enter -0-
15.
2,500
16.
Add lines 14 and 15
16.
7,650
17.
Multiply line 1 by 85% (.85)
17.
2,500
18.
Enter the smaller of line 16 or line 17
18.
19.
Enter the total of the amounts from line 21 of Worksheet 2 and line 14 of Worksheet 3
-0-
for all earlier years for which the lump-sum payment was received
19.
2,500
Taxable benefits under lump-sum election method. Add lines 18 and 19
20.
20.
Note: If line 20 above is not smaller than line 18 of Worksheet 1, you cannot use this
method to figure your taxable benefits. Instead, follow the instructions on Worksheet 1
to report your benefits.
You can elect to report your taxable benefits under this method if line 20 above is smaller than line 18 of Worksheet 1.
To elect this method:
● Make the following entr ies on your retur n:
On For m 1040, enter “LSE” to the left of line 20a.
On For m 1040A, enter “LSE” to the left of line 14a.
● Enter the amount from line 1 of Worksheet 1 on For m 1040, line 20a, or on Form 1040A, line 14a. If you are
marr ied filing separately and you lived apart from your spouse for all of 2001, also make the entries described at
the top of Worksheet 1.
● If line 20 above is zero, follow the instructions below line 9 on Worksheet 1. Otherwise, enter the amount from
line 20 above on For m 1040, line 20b, or on 1040A, line 14b.
Page 13
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