I received a SSA-1099 form about a week after I filed. Total net benefits for the year in that form were $13,868. It states that if I earn more than $25,000 in taxable wages, the income I received from Social Security is taxable.
I worked a full-time job about two thirds of the year, and I attempted to start a business to sell stuff online. In my 1040, adjusted gross income was at $16,147 but taxable income (line 43) has $5747. A lot of deductions because I basically lost money in my business.
If I count the adjusted gross income and the social security benefits, my yearly income is at $30,015. If I only count the taxable wages, my earnings are at $19,615.
Do I have to refile, and possibly pay more taxes?
