DawnC
Expert Alumni

Deductions & credits

Yes, it is most likely due to the Form 1099 you received and the PUA benefits that exceeded $10,200.    

 

Whether or not your Social Security income is taxable depends on your total income, including your Social Security plus any other income. Generally speaking, if your only income is Social Security, you probably don't make enough money to be required to file a federal tax return.

 

For those with additional sources of income, the key figure is the Modified Adjusted Gross Income (MAGI). The MAGI includes half of your Social Security, plus other sources of income. Once your MAGI exceeds the base amount for your filing status ($32,000 for Married Filing Jointly, otherwise $25,000), at least part of your Social Security income becomes taxable. The taxable portion of your Social Security income increases once you reach additional MAGI thresholds.

 

Is My Social Security Taxable? TurboTax Tax Tip Video  @wpb  The video further explains how the taxable portion is calculated and it is under 2 minutes in length.  

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