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Publication 915 2003 Tax Year

Publication 915
Introductory Material

This is archived information that pertains only to the 2003 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Table of Contents

Important Reminder

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Introduction

This publication explains the federal income tax rules for social security benefits and equivalent tier 1 railroad retirement benefits. It is prepared through the joint efforts of the Internal Revenue Service, the Social Security Administration (SSA), and the U.S. Railroad Retirement Board (RRB).

Social security benefits include monthly survivor and disability benefits. They do not include supplemental security income (SSI) payments, which are not taxable.

Equivalent tier 1 railroad retirement benefits are the part of tier 1 benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. They are commonly called the social security equivalent benefit (SSEB) portion of tier 1 benefits.

If you received these benefits during 2003, you should have received a Form SSA–1099, Social Security Benefit Statement, or Form RRB–1099, Payments by the Railroad Retirement Board, (Form SSA–1042S, Social Security Benefit Statement, or Form RRB–1042S, Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board, if you are a nonresident alien) showing the amount.

Note.

When the term “benefits” is used in this publication, it applies to both social security benefits and the SSEB portion of tier 1 railroad retirement benefits.

What is covered in this publication.

This publication covers the following topics:

  • Whether any of your benefits are taxable,
  • How much is taxable,
  • How to report taxable benefits,
  • How to treat lump-sum benefit payments, and
  • Deductions related to your benefits, including a deduction you can claim if your repayments are more than your gross benefits.

The Appendix at the end of this publication explains items shown on your Form SSA–1099, SSA–1042S, RRB–1099, or RRB–1042S.

What is not covered in this publication.

This publication does not cover the tax rules for the following railroad retirement benefits:

  • Non-social security equivalent benefit (NSSEB) portion of tier 1 benefits,
  • Tier 2 benefits,
  • Vested dual benefits, and
  • Supplemental annuity benefits.

For information on these taxable pension benefits, see Publication 575, Pension and Annuity Income.

This publication also does not cover the tax rules for foreign social security or railroad retirement benefits. These benefits are taxable as annuities, unless they are exempt from U.S. tax or treated as a U.S. social security benefit under a tax treaty.

Comments and suggestions.

We welcome your comments about this publication and your suggestions for future editions.

You can e-mail us at *taxforms@irs.gov. Please put “Publications Comments” on the subject line.

You can write to us at the following address:


Internal Revenue Service
Individual Forms and Publications Branch
SE:W:CAR:MP:T:I
1111 Constitution Ave. NW
Washington, DC 20224

We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence.

Useful Items - You may want to see:

Publication

  • 505 Tax Withholding and Estimated Tax
  • 575 Pension and Annuity Income
  • 590 Individual Retirement Arrangements (IRAs)

Forms (and Instructions)

  • 1040–ES Estimated Tax for Individuals
  • SSA–1099 Social Security Benefit Statement
  • SSA–1042S Social Security Benefit Statement
  • RRB–1099 Payments by the Railroad Retirement Board
  • RRB–1042S Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board
  • W–4V Voluntary Withholding Request

See How To Get Tax Help near the end of this publication for information about getting these publications and forms.

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