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posted Jun 3, 2019 1:16:15 PM

On SSA-1099 I have entry 'Subtract Non-taxable payments - $629.40?

There was no option for this entry?

0 3 8274
1 Best answer
Expert Alumni
Jun 3, 2019 1:16:18 PM

On your SSA-1099 form any adjustments are already reflected in box 5 as the net amount of your taxable social security benefits. 

On your tax return you only enter the net income shown in box 5 of the Form SSA-1099.

To enter your Social Security benefits reported on form SSA-1099

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On Social Security (SSA-1099, RRB-1099), click the start or update button

3 Replies
Expert Alumni
Jun 3, 2019 1:16:16 PM

Is this information in box 3?

Expert Alumni
Jun 3, 2019 1:16:18 PM

On your SSA-1099 form any adjustments are already reflected in box 5 as the net amount of your taxable social security benefits. 

On your tax return you only enter the net income shown in box 5 of the Form SSA-1099.

To enter your Social Security benefits reported on form SSA-1099

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On Social Security (SSA-1099, RRB-1099), click the start or update button

Level 4
Feb 3, 2021 5:54:24 AM

So, if I ignore the amount labeled:

 

SUBTRACT:
Non-Taxable payments $260.40, 

 isn't my Part B Medicare Premium Paid overstated?