social security

Last year we received 33k  and only 5800 was taxable. This year we received approx the same amount but almost all of the 33k was taxable. Please explain. Thanks

 

Deductions & credits

How much is your other income?

 

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0

 

To see the Social Security Benefits Calculation Worksheet  in Turbo Tax Online version you would have to save your return with all the worksheets to your computer.   Or if you are using the Desktop CD/Download Software you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the right side.

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Deductions & credits

My other income went from 30k to 70k. You have answered my question. Thanks so much.

Deductions & credits

the taxable rate for SS seems to have changed from last year,  why?

Deductions & credits

There is not a separate tax rate for Social Security.  The taxable amount just adds to your total income and taxed at your regular rate.   If your total income increased it can push you into a higher tax bracket.  And if you other income increased it will make more of your SS taxable.

 

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0

 

To see the Social Security Benefits Calculation Worksheet  in Turbo Tax Online version you would have to save your return with all the worksheets to your computer.   Or if you are using the Desktop CD/Download Software you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the left side.