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Taxes on Social Benefits
This not a question, just a statement to be cautious and double check to be sure TT calculated tax on Social Security benefits. I didn't and was expecting a return, but IRS discovered an error in TT calculated tax on SS benefits and I now owe IRS. In checking the SS Benefits Worksheet, the error appeared in the TT calculation on line 17 of the worksheet, (Multiply line 1 85% (0.85)). Well, in my case the amount TT calculated on line 17 was only 26.5% instead of the full 85%. So please be cautious and double check your tax on SS benefits to ensure correctness,
May 6, 2025
5:32 PM