I thought that after full retirement age of 66 that I would only pay federal tax on 85% of my social security income

posted

Connect with an expert

1 Best answer

Accepted Solutions

The maximum amount of social security income that is taxable is 85%.

4 Replies

The maximum amount of social security income that is taxable is 85%.

Why does Turbo Tax report and calculate the full amount of Social Security Income

It reports the full amount on Line 5a of Form 1040, but the taxable amount is shown on Line 5b.

The TT Summary lists only the gross figures, and is just FYI.

Still have questions?

Questions are answered within a few hours on average.

*Must create login to post

Unlock tailored help options in your account.