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Retirement tax questions
"-$15565"
If I remember correctly, this is your gross SS distribution, not the taxable portion.
What appears in 5b is only the taxable portion. That's what we want to end up on line 8 (on Schedule 1, it's line 7a on the 1040 itself).
Yes, if you enter a negative Other Income, this will change the taxable amount on line 5b. You will need to make new entries for Other Income, until the gap closes and the line 5b positive amount and the line 8 negative amount are the same or at the most $1 off.
It won't take too many tries before you get a feel for how much to change the negative amount to get the result you want.
Does this make sense?
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‎February 3, 2020
10:27 AM