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

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

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

View solution in original post

4 Replies

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

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

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

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

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

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

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

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

Still have questions?