Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
Form 1040 Lines 20a and 20b, Form 1040A Lines 14a and 14b
It does not say preview my 1040. It throws up a review form when you click on view tax summary. The review does not show you your actual 1040.
It will not show you or actual 1040 until you pay. I want to see it before I pay the fees.
After you select View Tax Summary the link for Preview my 1040 will be shown on the left side of the screen.
Total and taxable Social Security benefits are reported on Form 1040 on lines 20a and 20b, and on Form 1040A on lines 14a and 14b. See the video below if you would like to know how TurboTax calculated the taxable portion of your SS.
Whether or not your Social Security income is taxable depends on your total income, including your Social Security plus any other income. Generally speaking, if your only income is Social Security, you probably don't make enough money to be required to file a federal tax return.
For those with additional sources of income, the key figure is the Modified Adjusted Gross Income (MAGI). The MAGI includes half of your Social Security, plus other sources of income. Once your MAGI exceeds the base amount for your filing status ($32,000 for Married Filing Jointly, otherwise $25,000), at least part of your Social Security income becomes taxable. The taxable portion of your Social Security income increases once you reach additional MAGI thresholds.
I have read previous posts that directs me to lines 20a and 20b on my return. There is only line 20 and it is blank. I don't know if this makes a difference, but I did file an amended return. Thank you
@bolinda You have added on to a very old post. Line numbers have changed. What year are you asking about? And what is your question?
For 2021 Social Security is on line 6a and any taxable amount on 6b.
Up to 85% of Social Security 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
Thank you for your quick response. I am trying to find my 2021 social security/medicare earnings to see if the SSA has the correct amt. You are right, this was an old post I replied to. For further clarification my return is a 2021 1040 for seniors. Thank you.
@bolinda - are you still working? your 'earnings' would be on your W-2...... is that what you are asking about?
what you received in Social Security payments would be on Form SSA-1099 and the payments on that form would end up on Line 6a. The taxable part, if any, would be on line 6b.
TAX ON SOCIAL SECURITY
Up to 85% of your Social Security benefits can be taxable on your federal tax return. There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits. When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.
What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2017 that limit was $16,920 —for 2018 it was $17,040—for 2019 it was $17,640— for 2020 it is $18,240; for 2021 it is $18,960, (For 2022 it will be $19,560) After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.
To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2021 Form 1040
https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable
https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable
You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.
Some additional information: There are 13 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. These states offer varying degrees of income exemptions, but four mirror the federal tax schedule: MN, ND,VT, and WV
Thanks. I think my question was not clear. I just want to where on my 2021 1040 for Seniors I can find the amount that social security considers my Taxed Social Security Earnings to be. I want to double check before I apply. I already know that it is just eared income.
Line 6a is your social security benefits and should match Form SSA-1099 that you received earlier this year
Line 6b is the taxable portion. Depending if you have other income, line 6b could be blank.
Unless you are asking about Social Security benefits you are receiving now (taxable amount will be on 1040 6b) the 1040 doesn't show it. Social Security wages are on your W2 box 3.
@bolinda -we may still not be asnwering your question.
when you state "before I apply" ... apply for what?
@bolinda - olay, so I think you are asking...."based on my current income, how much of my social securty will be taxed?"
it depends on your 1099 income as the answer is a sliding scale from nothing will be taxed up to 85% of social security will be taxed
how much is your 1099 income in 2021? if you provide that I can estimate what percent of your social security will be taxed.
also, do you file Single or Joint?
What kind of 1099s? Do you file Schedule C for self employment? The Net Profit is the earnings reported for Social Security credit. You are paying SE tax on a Net Profit over $400.
the irs did not send me a SSA1099 and I dont remember turbo tax asking me to include a total benefit amount for 2021 on line6A or the return. Did I make a mistake by not reporting it even in light of my determined taxable income?
@bowerspaulr The Social Security Administration--not the IRS---sends you a SSA1099 in late January every year when you receive Social Security benefits. If you did not receive yours then you could go on the Social Security website to get a copy. You are required to enter the SSA1099 when you prepare your tax return, so if you did not enter it, you are going to need to amend the return after it has been fully processed.
Go to www.ssa.gov You have to create an account with a user name and password.
https://www.ssa.gov/myaccount/replacement-SSA-1099.html
https://www.ssa.gov/onlineservices/
https://www.ssa.gov/myaccount/
DO I NEED TO AMEND/
https://ttlc.intuit.com/questions/1908543-do-i-need-to-amend
https://ttlc.intuit.com/community/tax-return/help/how-do-i-amend-my-2021-return/00/2544441
Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.