Our SS from 2018 to 2019 increased >3%, yet the preliminary Income is showing taxable SS increasing by 25%. Does this ring true?
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Is you other income higher this year? You got more SS and probably more income. It's a tricky calculation.
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 left side.
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...
Could be. The taxable amount of SS is based on your OTHER total income.
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
That seems to be the issue, income in both years surpasses $32,000 so it has to be in the calculation or a different %?
Is you other income higher this year? You got more SS and probably more income. It's a tricky calculation.
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 left side.
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...
Thank you
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