Apr 5 at 5pm MT
After the $10,200 deduction for UI benefits was implemented by TurboTax in its software last week, everything was fine except for the social security taxable benefits computation. I created my return before the update was done and when TurboTax had it modified, I pulled up my return and Schedule 1, line 8 had the deduction in it and Line 9 was correct
However, the social security taxable benefits sheet was not corrected. The amount used was the same as before (the full UI amount that did not include the $10,200 exclusion). So I talked with TurboTax for over 90 minutes and before I got hung up on, the rep I talked to agreed that it was wrong, and was going to talk to the software guys to find out if this was known or not. I don’t know what happened. I believe their software just needs to refresh the social security taxable benefits worksheet with the data from the other forms.
I also just want to comment on the “full retirement age” term. From what I know, there is no such thing in the social security world. I’m 73 and they keep clawing benefit payments back. “Full retirement age” is an IRA type issue. I would love to see the IRS definition of “full retirement age” and what it pertains to.
