topic Social security in Retirement tax questions

Social security

Dino2 — Fri, 25 Oct 2019 15:36:25 GMT

Would like to know which Turbotax version I need to purchase for this year. The only income I have is social security disability and medical expense deductions. Also, where do I enter the income in the recommended version of Turbotax.

Re: Social security

DoninGA — Fri, 25 Oct 2019 15:43:43 GMT

Social Security Retirement/Disability/Survivors benefits are reported on a form SSA-1099 and the benefits received are reported on a federal tax return. The benefits may be taxable depending on the amount of other income you have entered on your tax return.
However, if the Social Security benefits are the Only income to be reported on the tax return, then there is no reason or need to file a tax return.

Any of the TurboTax editions can be used to report SS income. If you have no taxable income you are not required to file a tax return and any medical expenses you have are entered on a Schedule A as an itemized deduction. But if you have no taxable income, the deductions have no affect on your tax return.

If you have federal income taxes being withheld from your SS income, then you can file a tax return to get a refund of the taxes withheld. Or if you receive health insurance from one of the state Marketplace Exchanges and receive a Form 1095-A for the health insurance, then you need to file a tax return.

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

Re: Social security

VolvoGirl — Fri, 25 Oct 2019 15:43:49 GMT

If you only get SS or SSDI you don't need to file a tax return. It is not taxable and there is no benefit in claiming deductions or dependents. Unless you are married. If you want to file you will not be able to efile without taxable income so you will have to print and mail your return. You can use the Free Edition.

Re: Social security

Anonymous — Fri, 25 Oct 2019 16:58:41 GMT

what state do you live in. some states with an income tax may tax some of your social security benefits even if you are not required to file a federal return

Re: Social security

Dino2 — Fri, 25 Oct 2019 17:15:39 GMT

I’m in California.

Re: Social security

DoninGA — Fri, 25 Oct 2019 17:23:18 GMT

@Dino2 wrote:

I’m in California.

California has special provisions exempting Social Security benefits from state taxation.

Re: Social security

pammsilver — Tue, 11 Feb 2020 22:45:59 GMT

Still can’t find it

Re: Social security

DoninGA — Tue, 11 Feb 2020 22:47:33 GMT

@pammsilver wrote:

Still can’t find it

Find what?