When TurboTax was coming to a conclusion some how you gave me an income of $73,896 and I am a widow on SS and a pension that is $14,549 or $1,212.42 a month?

Forum|Forum|5 years ago
March 13, 2021
4 replies
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TurboTax Live Premier Online

SweetieJean

Alumni - Champ

Be sure you didn't make a data entry mistake, such as comma v. a decimal, when you entered the SSA-1099 and 1099-R forms.

SweetieJean

Alumni - Champ

I also note that you are using TT Premier. That is a high level program, and used for those that have forms such as 1099-B, K-1; or rental income. Do you have any of those?

11foxAuthor

Level 2

Yes, I am a member of a stock club and each member receives a K-1 at the end of the year. The IRS views the stock club as a partnership.

JamesG1

Level 15

On the partnership K-1, what numbers are reported in boxes 1 through 11? And boxes 12 through 20? Please clarify.

If the income of $73,896 is correct, as much as 85% of the Social Security is likely considered taxable income. See this IRS FAQ.

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When TurboTax was coming to a conclusion some how you gave me an income of $73,896 and I am a widow on SS and a pension that is $14,549 or $1,212.42 a month?

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