Income not showing up

[swflalarry]

I have started my taxes and entered both my and my wife's SS income. However, when TurboTax runs a calculation, it does not show my income in final calculations.  Will a working version of TurboTax be available in January 2024?

[xmasbaby0]

If the ONLY income you have entered is Social Security you do not have taxable income so it will not show up except on line 6a of your Form 1040.   Line 15 will be blank.   If you do not have any other taxable income to enter, you are not required to file a tax return.

[DoninGA]

When looking at Summary screens and you are filing as Married Filing Jointly only the totals for both of you are presented.  It does not break it down by person.

When entering the SS benefits information did you enter an amount under your name and an amount under your spouse's name for box 5 on the Social Security benefits screen?

[swflalarry]

Yes, that is why I am puzzled that it does not ca;cu;ate my taxes showing my SSA income

[swflalarry]

It is not including my income, only my wifes.

[swflalarry]

I had income from my 403(b), which it shows - taxes are deducted automatically from my withdrawals at the 20% rate. My return is showing 3x as much as a return than what it should be.

[DoninGA]

When you file as Married Filing Jointly, in every income section within the TurboTax program you have ability to indicate, by name, who the income or form belongs to.

Look at your Form 1040 Line 6a and see if the total SS benefits received by you and your spouse are entered correctly.  Also, review the other income lines of the Form 1040 to verify that they are also reported correctly.

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

[swflalarry]

It does show the total SSA income for both of us on line 6a. But it is showing only my wifes value as the taxable amount on 6b. Somehow I thought both of our incomes from SSA were taxed, not the just the lower value (mine was $20,000+ more than hers). Is this a change to tax code?

[xmasbaby0]

Your income is combined on a joint return.  The taxable amount of SS on 6b may be close to your spouse's amount, but that is coincidence.   It is just using the total and calculating how much of both of your SS amounts became taxable as a result of the other income you entered.  They are not singling your wife out and taxing only her SS.

[DoninGA]

The total is taxed.

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

[swflalarry]

That may be the answer. If so, I am overjoyed.