Before filing my 2024 taxes I would appreciate a confirmation from TurboTax that taxable Social Security benefits should be included in the MAGI on line 13 of form 8960 in the computation of the Net Income
Investment Tax which is what TurboTax is doing.
I've read a number of posts going back in time that contradict whether this is correct or not. The IRS documentation clearly states that Social Security Benefits are excluded from the investment tax but specific IRS documentation for line 13 is murky at best.
In my case inclusion of Social Security Benefits in the MAGI on line 13 of Form 8960 is the only reason why I should be liable to pay the additional tax which is considerable if required. This must be the case for many
other people using TurboTax.
For an individual tax payer is TurboTax 2024 correct in including Social Security Benefits in MAGI on line 13 of Form 8960 Net Income Investment Tax?
Thanks in advance for your clarification.
