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Retirement tax questions
And you are mixing apples and oranges.
In the background, on a "Social Security Benefits Worksheet", turbotax takes half of your gross SS benefits, Plus your other income to determine how much of your SS will be taxed (up to 85%)
That doesn't mean that 50% of SS income is being included in income (nor the taxable amount)....the 50% thing is only a background calculation to determine how much of SS will end up being taxed on your main 1040 tax form.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎February 8, 2023
6:16 AM
1,520 Views