My div, int, & ss total 128,423.80. standard deduction page says i earned 77,505 but will taxes on 46,805. what am i missing?

[bocajmar16-veriz]

my taxable income is 128,423.80 in 2023. standard deduction page shows i earned 77,505 and will pay taxes on 46,805. i don't understand the difference between what i earned and what you i earned?

[KrisD15]

Taxable income is on line 9 on your 1040.

Adjustments from Schedule 1 (IRA Deduction, HSA deduction...)  adjusts that income to 77,505 (1040 line 11) 

Standard deduction and QBI (combined 30,700?)  lowers your income to 46,805 (1040 line 15)

Please look over your 1040 and see if the numbers make sense. 

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[Mike9241]

taxable income 1040 is on line 15 while total income is 1040 line 9. Sounds more like the $128K is total income. then adjustments on schedule 1 reduce this to 77505 and your standard deduction of $30,700 reduces this to taxable income of $46,805. 

[VolvoGirl]

Your ss isn't all taxable.  Social Security is on line 6a and any taxable amount on 6b.

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