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If my total income for 2023 is $44,507. Why does Turbotax have my total income at $30,187. Is this because some of my Social Security is not taxed?

Can I use this lower total on applications of subsidized housing? Or do I have to use the "real" total?
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1 Reply
JulieS
Expert Alumni

If my total income for 2023 is $44,507. Why does Turbotax have my total income at $30,187. Is this because some of my Social Security is not taxed?

Yes, when you receive Social Security no more than 85% of it is included in your taxable income, no matter how high your income is. In many cases, the taxable portion is 0 - 50%. 

 

In general, subsidized housing is based on all of your income whether it is taxable or not. Check with the guidelines of the program under which you are applying to make sure. 

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