How can I use Form 1040-SR, its not coming up on Turbotax?

[07nena911]

Only part of my SS is taxable. I need to use 1040 SR to take the deduction.

[fanfare]

Switching to 1040-SR will not help you.

It's the same form but on three pages instead of two.

@07nena911 

[JamesG1]

Anyone age 65 or older may use IRS Form 1040-SR instead of IRS Form 1040.

However, you should be able to compute taxable Social Security income for either tax return.

In TurboTax Deluxe Online, report Social Security proceeds at:

• Federal
• Wages & Income
• Retirement Plans and Social Security
• Social Security (SSA-1099).

Social Security benefits will be reported in box 6a on either form.  The taxable amount of the benefits are reported in box 6b on either form.

Social Security Benefits Worksheet (page 7) computes the taxable portion of your Social Security income.

@07nena911 

[xmasbaby0]

Form 1040 and Form 1040SR are identical.  The SR only has bigger print.   The lines are the same and all of the calculations are the same.

As for taxing your Social Security:

Up to 85% of your Social Security benefits can be taxable on your federal tax return.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable. 

 What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2019 it was $17,640— for 2020 it was $18,240; for 2021 it was  $18,960.  For 2022 it was  $19,560  —  for 2023 $21,240)

After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2022 Form 1040

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable

You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

Some additional information:  There are 13 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia.  These states offer varying degrees of income exemptions, but four mirror the federal tax schedule: MN, ND,VT, and WV