social security

maestro777 — Tue, 28 Jul 2020 11:08:26 GMT

I have taxes deducted from my social security checks. Why does claiming my social security add $3000 to my taxes owed?

Re: social security

DoninGA — Tue, 28 Jul 2020 11:33:37 GMT

Did you enter the Social Security Form SSA-1099 correctly in TurboTax? The federal taxes withheld are entered on the same screen as the benefits received.

To enter Social Security benefits reported on form SSA-1099

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On Social Security (SSA-1099, RRB-1099), click the start or update button

Or enter ssa-1099 in the Search box located in the upper right of the program screen. Click on Jump to ssa-1099

Up to 85% of Social Security Retirement/Disability/Survivors benefits 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

topic social security in Deductions & credits

social security

Re: social security