Question: Is this statement correct regarding lump-sum back payments for Social Security benefits? Is this a correct option? Taxpayer is planning to retire early from their

Is this statement correct regarding lump-sum back payments for Social Security benefits?

Is this a correct option?

Taxpayer is planning to retire early from their job in January of 2024 and begin receiving Social Security at age 64. Taxpayer can take a lump sum of 6 months of Social Security up front, and attribute a portion of the lump-sum to the prior tax year when the tax return is filed.

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Yes

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