If our taxable soc sec is 4228.00 (box 14b on our return) - why is turbo tax only picking up half of that on our return (2114)

[hbl3973 · Accepted solution]

I suspect either (a) you are misreading TurboTax and that $4,228 was the total benefit and, with some exceptions, only 50% is taxable, or (b) you entered the $4,228 taxable amount into the field asking for the total social security benefits paid (SSA-1099 box 3).  As SSA-1099 does not show a taxable amount, I suspect you are in (a).

[VolvoGirl]

Where are you seeing the $4,228?  Is it on line 14b?  14b  is on your return so your post doesn't make sense.

 And then where are you seeing the $2,114?  How much is on your SSA-1099 box 5?

[robphil]

if 14a is 46125 and inc is around 12,000 - how does the taxable inc (box 14b) become 2,114.00  Looking how it is calculated.  I used the IRS worksheet and came up with a different number.  Just trying to satisfy my curiosity.  I am sure Turbo Tax calculated correctly.  thanks

[hbl3973]

Yes, with those numbers, I would expect about $1500 of taxable income.  However, if the $12K figure comes from the taxable income line rather than the adjusted gross income line, the number would be higher.  In addition, check to see if you fall under the Exceptions list:

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Use the Social Security Benefits Worksheet in these instructions to see if any of your benefits are taxable.

Exception. Do not use the Social Security Benefits Worksheet in these instructions if any of the following applies.

You made contributions to a traditional IRA for 2016 and you or your spouse were covered by a retirement plan at work or through self-employment. Instead, use the worksheets in Pub. 590-A to see if any of your social security benefits are taxable and to fig ure your IRA deduction.

You repaid any benefits in 2016 and your total repayments (box 4) were more than your total benefits for 2016 (box 3). None of your benefits are taxa ble for 2016. Also, you may be able to take an itemized deduction or a credit for part of the excess repayments if they were for benefits you included in gross income in an earlier year. For more details, see Pub. 915.
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[VolvoGirl]

I posted screen shots on another of his questions
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