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Solved

Is there a Turbo Tax computation error adding second SSA 1099 data?

Forum|Forum|7 years ago
June 6, 2019
1 reply
0 views

In 25% bracket with 1099R (2) with a refund of $2.558 due. Add my SSA 1099 and a refund $2,358 still due. Add my wife's SSA 1099 which is half $ of mine & it computes to I owe $. Still in 25% bracket?

TurboTax Deluxe Windows

Best answer by

You can't just watch the monitor when you are adding income because it reflects much more than the tax bracket on the income you are entering. Adding income changes your Adjusted Gross Income, not to mention the amount of taxable social security. Deductions or credits may change because they are sensitive to AGI, and the amount of SS that is taxable may have changed. The only way to tell what is happening in your return is to look at your 1040 before and after entering the income. You can do that easily by clicking on Forms in the upper right, then clicking on your 1040 which will show as part of the forms in your return on the left.

A

Anonymous

Answer

You can't just watch the monitor when you are adding income because it reflects much more than the tax bracket on the income you are entering. Adding income changes your Adjusted Gross Income, not to mention the amount of taxable social security. Deductions or credits may change because they are sensitive to AGI, and the amount of SS that is taxable may have changed. The only way to tell what is happening in your return is to look at your 1040 before and after entering the income. You can do that easily by clicking on Forms in the upper right, then clicking on your 1040 which will show as part of the forms in your return on the left.

crchase0330Author

Level 2

just seems like one helluva swing from refund $25K to owe $740 for my wife's extra 14K in SS