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aauccpa
Level 3
August 18, 2025

Interplay of Taxable Social Security and NOL Deduction

  • August 18, 2025
  • 1 reply
  • 17 views

The Percentage (up to 85%) of Social Security that is taxable is locked in by "provisional income" before the NOL is applied.  The NOL only reduces overall taxable income, not the portion of Social Security Benefits considered taxable. Is this correct? If it is, Intuit's taxable Social Security Benefits is incorrect.

    1 reply

    T
    Terry53029Intuit Community Champion
    Intuit Community Champion
    August 19, 2025

    Not correct, a NOL will reduce AGI, and taxable SS

      abctax55
      abctax55
      Level 15
      August 19, 2025

      And... beware that it can turn into a 'circular' computation (similar to the SEHI situation).

       

      HumanKind... Be Both
        George4Tacks
        George4Tacks
        Level 15
        August 19, 2025

        One of the few places that high school algebra has a real life application. Simultaneous equations at work!

        https://www.robertsandholland.com/wp-content/uploads/2024/12/Simultaneous-Equations.pdf

        Answers are easy. Questions are hard!
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