topic Taxing SS in Get your taxes done using TurboTax

Taxing SS

DE40 — Sat, 15 May 2021 21:54:48 GMT

After completing my taxes, I don't see that TurboTax has taken into account the 85% rule for taxing SS. The total taxable income includes the full SS amount

Re: Taxing SS

DoninGA — Sat, 15 May 2021 22:01:52 GMT

Where are you seeing the full amount of the SS benefits being taxed?

The total of the SS benefits received is on the Form 1040 Line 6a. The taxable amount of the SS benefits is on Line 6b and it will never be more than the amount of 85% of Line 6a.

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

Re: Taxing SS

DE40 — Sun, 16 May 2021 01:10:00 GMT

Thanks. I did not need to go to the summary but glad to know it's there. I wrongly assumed that the "Federal Deductions we Found for you" would include it. But it does not and the differences is the 15% of the SS.

Re: Business version saving a return

DE40 — Mon, 17 May 2021 19:21:27 GMT

Re: does the business version save the tax return after generating the K-1s? I started up the Business version to file the 1065 and there is no record of the tax return