When TurboTax was coming to a conclusion some how you gave me an income of $73,896 and I am a widow on SS and a pension that is $14,549 or $1,212.42 a month?
What details would you like?
04863
4 Replies
SweetieJean
Level 15
Mar 13, 2021 2:15:54 PM
Be sure you didn't make a data entry mistake, such as comma v. a decimal, when you entered the SSA-1099 and 1099-R forms.
SweetieJean
Level 15
Mar 13, 2021 2:17:37 PM
I also note that you are using TT Premier. That is a high level program, and used for those that have forms such as 1099-B, K-1; or rental income. Do you have any of those?
11fox
New Member
Mar 19, 2021 5:50:31 AM
Yes, I am a member of a stock club and each member receives a K-1 at the end of the year. The IRS views the stock club as a partnership.
JamesG1
Expert Alumni
Mar 21, 2021 1:49:45 PM
On the partnership K-1, what numbers are reported in boxes 1 through 11? And boxes 12 through 20? Please clarify.
If the income of $73,896 is correct, as much as 85% of the Social Security is likely considered taxable income. See this IRS FAQ.