Solved: I retired from my employer in Oct 2017 and began receiving social security in Nov 2017. How does my earnings from my employer factor into filing my 2017 income?
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I retired from my employer in Oct 2017 and began receiving social security in Nov 2017. How does my earnings from my employer factor into filing my 2017 income?

 
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Expert Alumni

I retired from my employer in Oct 2017 and began receiving social security in Nov 2017. How does my earnings from my employer factor into filing my 2017 income?

The total taxable income on the return and the total amount of social security received will factor into how much of the social security benefits are taxable.

Enter both your W2 earnings and your social security (Form 1099-SSA) to make sure all the calculations accurately reflect your taxable income.  Since you received almost a full year of wages then part of your social security received in 2017 will also be included.

If you didn't actually receive any social security income until 2018, then the wages will be reported and taxed like normal.  If you had any other retirement income, you will receive a Form 1099R to report any of that type of income.

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Expert Alumni

I retired from my employer in Oct 2017 and began receiving social security in Nov 2017. How does my earnings from my employer factor into filing my 2017 income?

The total taxable income on the return and the total amount of social security received will factor into how much of the social security benefits are taxable.

Enter both your W2 earnings and your social security (Form 1099-SSA) to make sure all the calculations accurately reflect your taxable income.  Since you received almost a full year of wages then part of your social security received in 2017 will also be included.

If you didn't actually receive any social security income until 2018, then the wages will be reported and taxed like normal.  If you had any other retirement income, you will receive a Form 1099R to report any of that type of income.

View solution in original post

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