If I file my taxes on my ssi what do I do
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Assuming by SSI, you mean social security income and not supplemental security income:
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.
Social security (including SSDI) becomes taxable when your income, including 1/2 your social security, reaches:
Married Filing Jointly(MFJ): $32,000
Single or head of household: $25,000
Married Filing Separately and lived with your spouse at any time during the tax year: $0
After TurboTax (TT) calculates the taxable portion of SS, it puts the total amount of SS on line 5a of form 1040 and the taxable amount on line 5b (lines 20a & 20b in 2017). TT also produces a worksheet to show how the taxable amount is calculated. Although most people pay tax on 85% of their SS. it can be less for lower income taxpayers.
How much is "sufficient other income"? The simple answer is $12,000 (a single person's filing requirement). But the answer varies dependent on marital status, filing status, age, the amount of your Social security, and whether you are claimed as a dependent by someone else.
Assuming by SSI, you mean social security income and not supplemental security income:
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.
Social security (including SSDI) becomes taxable when your income, including 1/2 your social security, reaches:
Married Filing Jointly(MFJ): $32,000
Single or head of household: $25,000
Married Filing Separately and lived with your spouse at any time during the tax year: $0
After TurboTax (TT) calculates the taxable portion of SS, it puts the total amount of SS on line 5a of form 1040 and the taxable amount on line 5b (lines 20a & 20b in 2017). TT also produces a worksheet to show how the taxable amount is calculated. Although most people pay tax on 85% of their SS. it can be less for lower income taxpayers.
How much is "sufficient other income"? The simple answer is $12,000 (a single person's filing requirement). But the answer varies dependent on marital status, filing status, age, the amount of your Social security, and whether you are claimed as a dependent by someone else.
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