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The income amounts on the summary in the tax tools and what I entered don’t match?

The total income on the summary under the tax tools doesn’t match what was entered. I entered social security, ira income and dividend income. The difference is about $9,000.

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4 Replies
Ashby
New Member

The income amounts on the summary in the tax tools and what I entered don’t match?

The program most likely is not listing the portion of your Social Security that is not taxable.

sammacera
Returning Member

The income amounts on the summary in the tax tools and what I entered don’t match?

I listed income of $70673. Turbo Tax listed my income at $100673, which included $2868 of Social Security as non taxable ($2868) plus Pensions/IRA at $70046 but my listed amount is $40046. Where isTurbo Tax getting their figures. Not from what I entered.

sammacera
Returning Member

The income amounts on the summary in the tax tools and what I entered don’t match?

I listed income of $70673. Turbo Tax listed my income at $100673, which included $2868 of Social Security as non taxable ($2868) plus Pensions/IRA at $70046 but my listed amount is $40046. Where isTurbo Tax getting their figures. Not from what I entered.

The income amounts on the summary in the tax tools and what I entered don’t match?


@sammacera wrote:

I listed income of $70673. Turbo Tax listed my income at $100673, which included $2868 of Social Security as non taxable ($2868) plus Pensions/IRA at $70046 but my listed amount is $40046. Where isTurbo Tax getting their figures. Not from what I entered.


Are you looking at a summary screen and not your tax return.  The summary screen will show your total income which would include the full amount of the SS benefits.

Look at your tax return.  The taxable amount of the SS benefits is on Line 6b.  Your Total Income is on Line 9.  Your Taxable Income is on Line 15.

 

Using the online editions -

You can view your Form 1040 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

 

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