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Should my ssa benefits have been reduced by the voluntary taxes withheld ?

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3 Replies

Should my ssa benefits have been reduced by the voluntary taxes withheld ?

Just enter the exact numbers on your document

 

Should my ssa benefits have been reduced by the voluntary taxes withheld ?

What do you mean by "reduced?"   If you were having tax withheld from your SS, then the amount you received each month was reduced by the amount of tax withheld, just like when you worked and had tax withheld from your paychecks.   

 

Now if you are filing a tax return, enter your SSA1099 and make sure you include the amount that was withheld for tax.  The software will calculate any refund you are supposed to get back.

 

 Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter your SSA1099.

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Should my ssa benefits have been reduced by the voluntary taxes withheld ?

If you are NOT using the "Free" version...there is Customer Support...but I don't know if they have your answer

What is the TurboTax phone number? (intuit.com)

___________________________

As far as your SSA-1099 is concerned....

No, your gross SSA benefits go in as-is....before deductions

 

The deductions for Federal income taxes, or Medicare insurance deductions go into the appropriate boxes on the software form, but they do not reduce your Gross benefit entry.

 

By just entering them in the software SSA-1099 form boxes...Federal tax withholding will be credited to you, and the....Medicare premium payments will be transferred into the "potential" Medical deductions area (but will not be used unless you have enough deductions t "itemize" AND then, only if your medical deductions exceed 7.5% of your AGI)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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