- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
390% increase in taxable SS income
Form 1040 SR Lines 6a & 6b combined SS income (Married/Joint both born before jan 2, 1959):
— In 2022 the amount shown on 6a was $38.1k and the amount shown in 6b was $5.0k (both rounded).
— In 2023 the amount shown on 6a was $41.5k and the amount shown in 6b is $16.4k (both rounded).
— With an increase of $3.4k from year to year (COLA increase), why is the taxable amount increased from $5.0k to $16.4k?
— An income increase of $3.4k in SS payments results in an increase of $11.4k in taxable SS income?
— A 390% increase in taxable SS income? How is that possible?
April 9, 2024
11:52 AM