After reviewing form 703, 1/2 of my ss and my retirement is only $17000 which should not be taxed. Why is my ss being taxed? I am single and my daughter claims me.
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New Member

After reviewing form 703, 1/2 of my ss and my retirement is only $17000 which should not be taxed. Why is my ss being taxed? I am single and my daughter claims me.

 
4 Replies
Level 15

After reviewing form 703, 1/2 of my ss and my retirement is only $17000 which should not be taxed. Why is my ss being taxed? I am single and my daughter claims me.

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

If you are being claimed as a dependent then you lose the personal exemption of $4,050.  You would only receive the standard deduction of $6,300 since you are filing as Single.

New Member

After reviewing form 703, 1/2 of my ss and my retirement is only $17000 which should not be taxed. Why is my ss being taxed? I am single and my daughter claims me.

I understand the personal exemption but 1/2 of my ss and my other income (mandatory distribution) equals $17000. When I enter the info from my ssa 1099 the refund amount goes down.  This is the first year I have had to file taxes as I just turned 70 1/2 and have to take a distribution.
Level 15

After reviewing form 703, 1/2 of my ss and my retirement is only $17000 which should not be taxed. Why is my ss being taxed? I am single and my daughter claims me.

Look at your tax return.  Click on My Account at the top of the program screen.  Click on Tools.  Click on View Tax Summary.  Click on Preview my 1040.  

The SS benefit amount is shown on Form 1040 Line 20a, taxable on Line 20b.  For a Form 1040A Line 14a and 14b respectively.
 If you received income reported on a Form 1099-R then the taxable amount of that income will be shown on Form 1040 Line 15b or 16b.  On Form 1040A Line 11b and 12b respectively.   
Also review any other income reported on Lines 7 through 21 on Form 1040 or Lines 7 through 14 on Form 1040A.

The TurboTax program calculation for the taxable amount of SS benefits only uses the IRS approved worksheets based on the tax code.
New Member

After reviewing form 703, 1/2 of my ss and my retirement is only $17000 which should not be taxed. Why is my ss being taxed? I am single and my daughter claims me.

Thank you!! That is what I needed to see. It was not taxing me.  🙂
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