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michael-ciccarel
New Member

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

 
6 Replies
VolvoGirl
Level 15

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0


To see the Social Security Benefits Calculation Worksheet in Turbo Tax Online version you would have to save your return with all the worksheets to your computer. Or if you are using the Desktop CD/Download Software you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the right side.

 

RayW7
Expert Alumni

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

Social Security is taxed based on your other income so I can't give specific amounts but listed below are how those benefits are taxed. 

 

Not everyone has to pay taxes on their Social Security benefits. To see if your Social Security will be taxed, you have to look at your combined income and your marital status. “Combined income” in relation to social security income is Adjusted Gross Income plus nontaxable interest plus 1/2 of social security benefits.

  • If you’re single and your total combined income for the year is between $25,000 and $34,000, then up to 50% of your benefits can be taxed.
  • If you’re single and your total combined income for the year is greater than $34,000, then up to 85% of your benefits can be taxed.
  • If you’re married filing jointly and your total combined income for the year is between $32,000 and $44,000, then up to 50% of your benefits can be taxed.
  • If you’re married filing jointly and your total combined income for the year is greater than $44,000, then up to 85% of your benefits can be taxed.

-follow this link for additional information-

Are Social Security Benefits Taxable? | The TurboTax Blog

michael-ciccarel
New Member

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

Thank you Volvo Girl,

 
Let me rephrase question with all the facts:
 
My SS is $26,258  x .50% = $13,129
 
My other income is $23,723 + 13,129(50% of SS) = $36,852 - $25,000(single) = $11,852
 
Why is turbo tax saying the taxable amount is $15,339? What calculation am I missing?
 
When I calculate the worksheet I get $6,924 is taxable? That also using another $9,000 for a single taxpayer?
 
Thank You!
Regards,
Mike
 
PS. Thanks for putting up with me! lol
 

 

BillM223
Expert Alumni

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

@michael-ciccarel

 

Please use the IRS Interactive Assistant to answer the question, "Is my Social Security Taxable?

 

You can do this online, using all your relevant data to see if you get the same results as TurboTax. 

 

The problem is that we in the Community cannot see your private tax data, and you have no way of knowing which of the 1,001 details that make a difference are important, so rather than us playing 20 questions until we guess what the issue is - use the IRS Interactive Assistant to see if it gives you the same answer as TurboTax.

 

If it doesn't, then please come back and tell us, but if it does, then you can feel comfortable that TurboTax is doing it correctly, and that you will be able to see the calculation on the Social Security Benefits Worksheet when you finish your return and pay for it.

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VolvoGirl
Level 15

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

Why did you subtract the 25,000?  It just means if the  total on line E is more than 25,000 then some of it is taxable.  Did you see the worksheet Turbo Tax filled out?

 

You should not use the worksheet on the back of the SSA-1099.  It can be complicated to figure out even though it looks simple.  Turbo Tax figures it all out for you.

 

When you enter 1/2 of your ss on line B it is not being subtracted from anything.  It is being ADDED to ALL your other income to see if any of the ss will be taxable to you.

michael-ciccarel
New Member

My total SSA is $26,258. Turbo says $15,339 is taxable. What is the calculation based on my income of $23,723 less $300 charitable contribution as single filer?

Thanks Again! 

 Virtual assistant in irs.gov got the same amount as turbo. I was deducting 10,200 from my other income which was unemployment credit.. But turbo does not allow the American Rescue plan deduction. Which doesn't make sense because you can exclude it from income but not when you calculate taxability for SSA.
 
Oh Well!
 
Your the Best!
Mike
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