PRESIDENT CUT TAX ON SS FOR SR

[clsbell1942]

where is it that the president said no tax on ss

[VolvoGirl]

Nothing about Social Security has changed. It can still be taxable.  There is a new Enhanced Senior Deduction if you are 65 or older.

It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b with any other sch 1-A amounts. Turbo Tax automatically includes it if you qualify.

For Single the deduction starts to phase out at 75,000 and maxes out at 175,000
For Joint the deductions starts to phase out at 150,000 and maxes out at 250,000
If you are married you have to file a Joint return
And your SSN must be VALID for employment. Do NOT check the box saying Not Valid under My Info.


For Online version You can preview the 1040 or print the whole return
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

What do you have on 1040 or 1040SR line 13b?

See the 1040 ….

[mesquitebean]

@ clsbell1942  wrote:  " PRESIDENT CUT TAX ON SS FOR SR

where is it that the president said no tax on ss"

President Trump wanted "no tax on Social Security" included in his OBBBA as relief for Seniors, but that was voted down in the Senate as well as the other items in the OBBBA. So the OBBBA had to be passed through a process called budget reconciliation. That budget reconciliation process specifically prohibits any changes to Social Security (part of the Byrd Rule). So instead, a lesser workaround was to lessen the pain a bit with a "senior bonus" called the "Enhanced Senior Deduction". It does not equate to full Social Security tax refief for many people, but it does help lower the overall tax burden of seniors and got around the Byrd Rule. It provides some extra spending money, especially for married couples. Hopefully, additional tax relief for Social Security can be in future legislation if the Senate doesn't obstruct again.