Be sure you have entered your Social Security income as follows in the Federal income section.
- Select Wages & Income
- Scroll down to All Income
- Select show more to the right of Retirement Plans & Social Security
- Select Social Security (SSA-1099, RRB-1099)
Social security is taxed once your modified adjusted gross income reaches $25,000 or $32,000 if married filing joint. This includes income earned from all sources including your social security benefits.
Please see the attached for more information.
Is Social Security taxable?
You will enter your dividend income from your 1099-DIV in the Federal income section as well.
- Select Income & Expenses
- Scroll down to All income
- Select Dividends on 1099-DIV
Charitable contributions, mortgage interest, and property taxes are all considered itemized deductions. You will find the input in the Deductions & Credits section of the program.
- Go to Deductions & credits
- Scroll down to All tax breaks
- You will be able to enter your information as applicable for each item in this section. For example, your charitable contributions will be entered under Charitable Donations. Your mortgage interest and property taxes will be entered under the section titled Your Home.
If your itemized deductions exceed your standard deduction, you will be able to itemize. TurboTax will select the method that results in the highest tax benefit for you. Please see the attached link for additional information on the difference between the standard deduction and itemized deductions.
Standard deduction versus Itemized deduction
Once you have entered the information above, just continue through the prompts and TurboTax will prompt you as you go along to ensure you have entered everything needed to file your income tax return.
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