turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Any New Updates on Taxable Social Secuity Calculation affected by Unemployment Comp Exclusion?

Hello, Just want to check if there has been any latest update on the taxable social security income calculation.  The last that I know is the $10,200 unemployment tax exclusion does not apply to the taxable soc sec income determination, and the full amount of unemployment benefits is used to calculate the taxable social security income (not the full unemployment amount minus the $10,200).  Has there been any changes on this?  Thank you.  

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Any New Updates on Taxable Social Secuity Calculation affected by Unemployment Comp Exclusion?

The calculation for the taxable portion of Social Security benefits is unreduced by the exclusion.

 

IRS website - https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation

 

When figuring any of the following deductions or exclusions, include the full amount of your unemployment benefits reported on Schedule 1, line 7 (unreduced by any exclusion amount): taxable social security benefits, IRA deduction, student loan interest deduction, nontaxable amount of Olympic or Paralympic medals and USOC prize money, the exclusion of interest from Series EE and I U.S. Savings Bonds issued after 1989, the exclusion of employer-provided adoption benefits, the tuition and fees deduction, and the deduction of up to $25,000 for active participation in a passive rental real estate activity.

View solution in original post

1 Reply

Any New Updates on Taxable Social Secuity Calculation affected by Unemployment Comp Exclusion?

The calculation for the taxable portion of Social Security benefits is unreduced by the exclusion.

 

IRS website - https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation

 

When figuring any of the following deductions or exclusions, include the full amount of your unemployment benefits reported on Schedule 1, line 7 (unreduced by any exclusion amount): taxable social security benefits, IRA deduction, student loan interest deduction, nontaxable amount of Olympic or Paralympic medals and USOC prize money, the exclusion of interest from Series EE and I U.S. Savings Bonds issued after 1989, the exclusion of employer-provided adoption benefits, the tuition and fees deduction, and the deduction of up to $25,000 for active participation in a passive rental real estate activity.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies