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I'm using TT Premier on a Windows PC to compute my estimated taxes for 2023 (under "Federal taxes, other tax situations, other tax forms"). Where do I enter Social Security income? There are places to enter wages, investment income, self-employment income, and then all other income is lumped together in "other income." From what I understand, SS income is taxed differently, so it doesn't make sense to enter under "other." Where do I enter SS income to get the best estimate of my 2023 taxes?
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I would enter 85% of Social Security under other. That is the max taxable amount. How much was taxable in 2022 on line 6b?
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
This is the first year we're receiving SS benefits, so there is nothing to look at on our 2022 return.
For now, I did put 85% of SS in "other" income. I just expected that TT would be able to handle it better, like it does with investment and self-employment income.
Well it is just an estimate.
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