Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was receiving money from my federal?

6e341b386f53 — Tue, 10 Feb 2026 09:41:22 GMT

Re: Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was receiving money from my federal?

DoninGA — Tue, 23 Jan 2024 01:23:40 GMT

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

Re: Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was r...

BillM223 — Tue, 23 Jan 2024 01:25:14 GMT

Of course, we can't see your private tax data, but my guess is that you were receiving a refundable tax credit (hence the refund), but when you entered the income on the SSA-1099, this caused you to owe tax because you likely had no withholding on the SSA-1099 (many taxpayers do not).

Re: Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was r...

xmasbaby0 — Tue, 23 Jan 2024 01:40:20 GMT

TAX ON SOCIAL SECURITY

Up to 85% of your Social Security benefits can be taxable on your federal tax return. There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits. When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.

What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2019 it was $17,640— for 2020 it was $18,240; for 2021 it was $18,960. For 2022 it was $19,560 — for 2023 $21,240) For 2024, $22,320.

After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare. If you work as an independent contractor then you will pay self-employment tax for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2023 Form 1040

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable

You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

Some additional information: There are 11 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, and Vermont These states offer varying degrees of income exemptions, but two mirror the federal tax schedule: MN and VT.

The tax laws for 2024 will change——for tax year 2024 Missouri and Nebraska will no longer tax SS

topic Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was receiving money from my federal? in Retirement tax questions

Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was receiving money from my federal?

Re: Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was receiving money from my federal?

Re: Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was r...

Re: Why when i entered my SSA 1099 i suddenly owed money but before i entered my SSA 1099 i was r...