The Social Security form allows you to enter 505 of the amount received. Does Turbo do this?

What Social Security form allows only 50% of benefits paid to be reported?

The benefits reported on a Form SSA-1099 in box 5 of the form are entered on your federal tax return.

To enter Social Security benefits reported on form SSA-1099

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On Social Security (SSA-1099, RRB-1099), click the start or update button

Or enter ssa-1099 in the Search box located in the upper right of the program screen. Click on Jump to ssa-1099

Up to 85% of Social Security Retirement/Disability/Survivors benefits becomes taxable when all your other income plus 1/2 your social security reaches:

• Married Filing Jointly - $32,000
• Single or Head of Household - $25,000
• Married Filing Separately - 0

You would enter 100% of the Social Security benefits reported to you on your SSA-1099.  Then, based on other information in your return, TurboTax will determine what amount, if any, is taxable income.  

Use the following steps to get started:

• On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
• This opens a box where you can type in “social security income” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
• The search results will give you an option to “Jump to social security income”
• Click on the blue “Jump to social security income” link and enter your information

@clpeltzer