Social security

Forum|Forum|3 years ago
March 12, 2023
4 replies
14 views

My client received SCOIAL SECURITY RECEIVED $28,237 FOR A SINGLE PERSON. THERE ARE NOT BEING CHARGED TAX PER INTUIT IM UNDER THE IMPRESSION ANYTHING RECEIVED OVER 25000 IS TAXED AT 50%

ProConnect Tax

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sjrcpa

Level 15

It depends on the amount of other income.

Look at the worksheet. It's even included with the 1099.

The more I know the more I don’t know.

B

BRYAN4Author

Level 2

There is no other income and no tax being charged…does that seem right?

PhoebeRoberts

Intuit Community Champion

When you worked through the worksheet on the 1099, what did you come up with?

BobKamman

Level 15

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

PATAX

Level 12

Look at the Social Security benefits worksheet. You basically: Take one half of the amount from box 5 of Social Security. To that you add the other applicable gross income amounts, that's line three. Then look at line four on that worksheet, but for most it is empty on that line. Add lines two, three, and four, that's line five. If that total amount is under $25k, then there is no federal income tax assessed on the Social Security income. Look in your quickfinder or taxbook if you have it.

abctax55

Level 15

IM UNDER THE IMPRESSION

Tell us please, where you obtained that 'impression' ?

HumanKind... Be Both

IRonMaN

Level 15

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Slava Ukraini!

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