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Level 2
posted Feb 22, 2022 2:11:35 PM

2022 estimated taxes - where do I enter expected social security income?

I'll receive social security income for the first time in 2022.  When updating information to calculate the estimate for next year under "other tax situations" on the desktop home and business edition, I don't see how to add that income for estimating purposes.  How do I add it?

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1 Replies
Expert Alumni
Feb 22, 2022 3:25:43 PM

That is because your estimated tax is based on your income from the prior year. As long as you pay in 100% of the tax from the previous year in a timely fashion, you won't normally be penalized for late payment of tax in the current year. 

 

You can add 85% of your social security income in the screen that says Enter 2022 Other Income and you will get a conservative estimate of your estimated tax, although your social security income could be taxed at a lower number, based on your income.