sydsheehy
New Member

Do I include all Social Security benefits or a percentage? When do you deduct the $13,600?

76 Years Old

Widow

$24,274 Social Security + $2,098 Pension

Self employed Income $10,150

Pension income $2,098

Hal_Al
Level 15

Retirement tax questions

Social security only becomes taxable when added to sufficient other income.  If you are otherwise required to file a tax return, you do need to enter all your SS in Turbotax (TT). TT will determine the taxable portion, using the IRS work sheet. You don't enter a "percentage"

How much  is "sufficient other income"? The simple answer is $12,000 (a single person's filing requirement). But the answer varies dependent on marital status, filing status, age, the amount of your Social security.

In your case, none of your social security will be taxable.

The $13,600 standard deduction will reduce your income subject to income tax.  You will owe no income tax.

The $13,600 standard deduction will not reduce any of your Self employment Income subject to self employment tax (social security and medicare). 

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MinhT
Expert Alumni

Retirement tax questions

You report the total amount of your SS benefits and TurboTax will calculate the taxable amount based on your other income. The standard deduction of $13,600 will be used by TurboTax if you do not itemize deductions. 

Please read this TurboTax FAQ for more information:

https://ttlc.intuit.com/replies/3299920

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IreneS
Intuit Alumni

Retirement tax questions

Enter all of your Social Security income.  Turbo Tax will calculate the taxable amount and take into consideration the standard deduction of $13,600.

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