Sec. 137303. Treatment of lump-sum social security benefits in determining household income
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/bill/117/hr/5376/eh/section-137303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 36B(d)(2) is amended by adding at the end the following new subparagraph: The term modified adjusted gross income shall not include so much of any lump-sum social security benefit payment as is attributable to months ending before the beginning of the taxable year. For purposes of this subparagraph, the term lump-sum social security benefit payment means any payment of social security benefits (as defined in section 86(d)(1)) which constitutes more than 1 month of such benefits.
With respect to any taxable year beginning after December 31, 2025, a taxpayer may elect (at such time and in such manner as the Secretary may provide) to have this subparagraph not apply for such taxable year. . The amendment made by this section shall apply to taxable years beginning after December 31, 2021.