I am reviewing my 1040 after having completed entering data and have noticed line 6b shows 0 for the taxable amount of my total social security income of $3240.
I earned over 50k from a federal pension and I am wondering if this is a glitch in the TT software
I have read that if your total retirement income is over 44k SS income is taxable
Thanks for your help in clarifying this issue
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No, $44K is incorrect. See the chart below for 2024 Social Security Income thresholds.
The threshold is all your other income plus 1/2 of your social security reaches:
Once you hit the threshold for taxable Social Security, the tax will be in your highest tax bracket, and both the Social Security and your other income will be taxed.
The thresholds are:
Please see Publication 915 Social Security and Equivalent Railroad Retirement Benefits 2024 See Page 3
Where did you read about the 44K?
Up to 85% of Social Security CAN BE 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
To see the Social Security Benefits Calculation Worksheet in Turbo Tax Online version you would have to save your return with all the worksheets to your computer. Or if you are using the Desktop CD/Download Software you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the right side.
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