Reporting social security

Forum|Forum|2 years ago
January 23, 2024
3 replies
95 views

Do you have to report SSA-1099 only if it is over a certain amount ? For married filing separately vs married filing jointly?

Not A Product Question

Best answer by Bsch4477

If you have a filing requirement you must report your social security. How much you will be taxed on it depends on your other income and filing status.

CatinaT1

Level 15

If you are filing a return, you must report the SSA-1099. If your only income is from Social Security, you are not required to file a return.

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Bsch4477

Answer

Level 15

If you have a filing requirement you must report your social security. How much you will be taxed on it depends on your other income and filing status.

xmasbaby0

Level 15

You enter ALL of your combined income on a joint return including Social Security. And if you file separate returns, the spouse who received SS will be paying MORE tax on that SS on their separate return.

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.

Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.

If you were legally married at the end of 2023 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $27,700 (+$1500 for each spouse 65 or older) You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return.

Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits wiil be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states: AZ, CA, ID, LA, NV, NM, TX, WA, WI)

If you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice since with online, you get one return per fee.

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separately

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

jyeh74Author

Level 6

The couple is filing married filing separately. They have no other income other than SSA. So they have to report SSA because married filing separately over 0?

xmasbaby0

Level 15

Here is the link on who qualifies as a qualifying relative for a dependent. All other conditions have been met. The only unsure part is the part about making gross income of $4300 or less. Social security income is more than $4300 a year.

https://apps.irs.gov/app/vita/content/globalmedia/overview_of_the_rules_for_claiming_4012.pdf

Under section 3

The person’s gross income for the year must be less than $4,300. Gross income means all income the person received in the form of money, goods, property and services, that isn’t exempt from tax. Don’t include Social Security benefits unless the person is married filing a separate return and lived with their spouse at any time during the tax year or if 1/2 the Social Security benefits plus their other gross income and tax exempt interest is more than $25,000 ($32,000 if MFJ).

However I’m not clear on the last statement. It says don’t include social security benefits (which I’m assuming is the 1099-SSA) unless they are filing married filing separately and live with the spouse? If they are being claimed as dependents, they should NOT be filing any taxes at all. Not separately, not jointly. So none of the conditions even matter.

You dug up old information. The amount is now $4700 of income. (not $4300) That refers to any income OTHER than Social Security income. So....as stated to you, the few dollars of interest do not exceed $4700, and does not interfere with the adult child claiming them. These "elderly" people are not required to file a tax return. The parents did not have enough income to be required to file a tax return. Not a joint return. Not separate returns.

The adult child who claims them gets a $500 credit for other dependents on their own return, which reduces their own tax liability.

This is what the adult child gets:

https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-credit