When I entered my husbands Social Security Benefits (he is 86), Turbo Tax said I owe over $3000 in taxes. I thought Social Security was not taxable. Why did this happen? Is there a new law? Last year when he did his taxes (before we married), he went to H&R Block. They entered his SS which was close to the same amount as he had in 2023 and then they had in the paperwork that only about 1/4 of his SS was the taxable amount. Is there something that I need to enter that I didn't? Did i do something wrong? I'm kind of confused on what happened here.
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The portion of your benefits subject to taxation varies with income level. You’ll be taxed on:
We would fit in the category or up to 85%. However, his SS was only less than $24,000. And the amount of taxes that Turbo Tax said we owed increased over $2500 with that SS added. This seems like a whole lot of tax on $24000. Is this accurate?
Yes Social Security can be taxable. It’s not new, been for a long time.
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
To see the Social Security Benefits Calculation Worksheet in Turbo Tax Online version you would have to save your return with all the worksheets to your computer. Or if you are using the Desktop CD/Download Software you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the left side.
Thank you so very much! This is a very helpful answer.
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