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Level 1
January 30, 2024
Question

Does Filing 1040sr from full time job and social security on line 5 .. it is putting social security as small business.. do I leave it ?

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2 replies

Alumni - Intuit
January 30, 2024

It sounds like you entered your SS as a 1099-R instead of a 1099-SSA.  Line 5 is for pensions and retirement, line 6 is for social security.  So, you will need to go back and delete your 1099-R by clicking the trash can next to it, then go back to income and scroll down under retirement, then select 1099-SSA to enter your SS income on line 6.  SS is taxed differently than a pension.  It is only partially taxable as opposed to fully taxable like most pensions are.

 

Your business income will show up on line 8 as part of the other income from Schedule 1. 

 

When you entered your small business income, did you enter it in the business section of TurboTax?  Are you seeing a Schedule C when you go to the forms mode?  This is where your business income starts. 

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Level 15
January 30, 2024

You entered the SSA1099 in the wrong place. Delete it from wherever you put it-- you probably entered it as a 1099R by mistake.

 

 Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter your SSA1099.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**