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wigidickerson-
New Member

Our amount of Social Security taxed for was about $7000 less than the amt of our benefits. Can you tell us why and if that can be corrected. Does it have to do with IRA?

 
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MaryK1
Level 9

Our amount of Social Security taxed for was about $7000 less than the amt of our benefits. Can you tell us why and if that can be corrected. Does it have to do with IRA?

Yes, the taxable amount of your social security is based on your other income.  (at the max only 85% gets taxed).  See below for more details, and please ask if you have any other questions.

https://ttlc.intuit.com/replies/3299920


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MaryK1
Level 9

Our amount of Social Security taxed for was about $7000 less than the amt of our benefits. Can you tell us why and if that can be corrected. Does it have to do with IRA?

Yes, the taxable amount of your social security is based on your other income.  (at the max only 85% gets taxed).  See below for more details, and please ask if you have any other questions.

https://ttlc.intuit.com/replies/3299920


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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