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March 17, 2022
Question

Where does it show the actual total amount of social security benifits that we are being taxed on after they have been adjusted?

  • March 17, 2022
  • 1 reply
  • 0 views
after completing worksheet it shows we should be taxed on 61% of total but apears that turbo tax is taxing 100% of total benifits.

1 reply

March 17, 2022

You will see your social security benefit total on line 6a of your 1040 and line 6b will show the taxable amount.  You can see your 1040 by clicking the following:

  • Tools
  • Tax Tools
  • View Tax Summary
  • Preview My 1040

 

If you fall into the following, 85% of your social security is taxable income

  • Single with income above $34,000
  • Married Filing Jointly with income above $44,000
  • Married Filing Separate regardless of income

If you fall into the following, 50% of your social security is taxable income

  • Single with combined income between $25,000-$34,000
  • Married Filing Jointly with combined income between $32,000 and $44,000

Your combined income is calculated by adding your

  • AGI plus
  • Nontaxable Interest plus
  • 1/2 of your social security Benefits

Social Security Benefits Taxes

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