topic Is Social Security taxable?? in Retirement tax questions

Is Social Security taxable??

jane-binger — Thu, 06 Jun 2019 06:18:22 GMT

Up to 85% of Social Security becomes taxable when all you...

VolvoGirl — Thu, 06 Jun 2019 06:18:23 GMT

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

It's not a simple yes or no question. Social security onl...

Hal_Al — Thu, 06 Jun 2019 06:18:25 GMT

It's not a simple yes or no question. Social security only becomes taxable when added to sufficient other income. If you are otherwise required to file a tax return, you do need to enter it in Turbotax (TT). TT will determine the taxable portion, if any.

If your only income is SS, it is not taxable and you do not even need to file a return (unless you are married. Then it would depend on your spouse's income)

thank you

jane-binger — Thu, 06 Jun 2019 06:18:26 GMT

thank you

State taxability varies

SweetieJean — Thu, 06 Jun 2019 06:18:28 GMT

State taxability varies

Even if Social Security is your only income, you have to...

rjs — Thu, 06 Jun 2019 06:18:28 GMT

Even if Social Security is your only income, you have to file a tax return if you received advance premium tax credit for health insurance.

right

jane-binger — Thu, 06 Jun 2019 06:18:29 GMT

right

My social security tax withheld is 828 do I get any refund?

elsalto77 — Thu, 06 Jun 2019 06:18:30 GMT

My social security tax withheld is 828 do I get any refund?

It depends on what you mean. If "social security tax wit...

Hal_Al — Thu, 06 Jun 2019 06:18:32 GMT

It depends on what you mean. If "social security tax withheld" refers to box 4 of your W-2, then no you don't get a refund. If you mean box 6 of form SSA-1099, then yes that is refundable, assuming you have no other income. It does mean you need to file a tax return.

Re: Up to 85% of Social Security becomes taxable when all you...

mgmcajun — Fri, 31 Jan 2020 21:24:23 GMT

does turbotax calculate to determine if social security is taxable?

Re: Up to 85% of Social Security becomes taxable when all you...

JamesG1 — Sun, 02 Feb 2020 20:20:19 GMT

TurboTax determines how much, if any, of your Social Security benefits is included in taxable income.

IRS publication 915 reads:

How Much Is Taxable?

If part of your benefits are taxable, how much is taxable depends on the total amount of your benefits and other income. Generally, the higher that total amount, the greater the taxable part of your benefits.

Maximum taxable part.

Generally, up to 50% of your benefits will be taxable. However, up to 85% of your benefits can be taxable if either of the following situations applies to you.

The total of one-half of your benefits and all your other income is more than $34,000 ($44,000 if you are married filing jointly).
You are married filing separately and lived with your spouse at any time during 2019.

Re: Up to 85% of Social Security becomes taxable when all you...

Pmills23 — Sun, 31 Jan 2021 15:02:50 GMT

Filled out TurboTax 1040-SR with all required info for wages including Social Security totals. My total income should have been $53438. But after I completed all forms and submitted to IRS and printed my return, I was surprised that my Adjusted Gross Income did not include my Social Security Payments.
cannot find a phone number or link to actually talk to someone from Turbo Tax about this glaring mistake in their software.
anyone have a phone number?

Re: Up to 85% of Social Security becomes taxable when all you...

DoninGA — Sun, 31 Jan 2021 15:15:50 GMT

@Pmills23 What tax year are you completing?

If 2020, how did you enter your income to include the SS benefits? If you are using the desktop editions in Forms mode you probably missed something.

There is no systemic issue with calculating SS benefits using the TurboTax software. It is not advisable to try completing a tax return in Forms mode. Use the Step-by-Step interview since it uses the software to correctly use any of the IRS calculations.

Use this TurboTax website to contact support - https://support.turbotax.intuit.com/contact/

Re: Up to 85% of Social Security becomes taxable when all you...

Pmills23 — Sun, 31 Jan 2021 15:17:30 GMT

I used the Step by Step. Mistake is on their end.

Re: Up to 85% of Social Security becomes taxable when all you...

DoninGA — Sun, 31 Jan 2021 15:23:02 GMT

Then contact TurboTax support for assistance.

I have completed 10 test returns using the TurboTax online and desktop editions without issue when entering income and SS benefits and have the correct amount of SS benefits taxes.

Also completed one personal return using the 2020 Premier desktop edition without issue with income and SS benefits entered.