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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29965
Experience:  Taxes, Immigration, Labor Relations
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In filling out the Social Security worksheet, I'm confused

Customer Question

In filling out the Social Security worksheet, I'm confused with the results I get.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: We received $32,647 in benefits, we made $75,980 last year. When I fill out the form, we have on Line #1, $32,647, Line #2, $16,324. Line #3, $75980 & Line #5, $92,304. Line #6 is zero. Does that mean that we owe $0.00 in tax on the benefit? Doesn't seem correct.
JA: Is there anything else the Accountant should be aware of?
Customer: No
Submitted: 6 months ago.
Category: Tax
Expert:  Lev replied 6 months ago.

That is not correct conclusion - with your income level - 85% of social security benefits will be added to your other taxable income.

Expert:  Lev replied 6 months ago.

Specifically - out of $32,647 total Social Security benefits * 85% = 27750 will be taxable part.

That amount will be added to other taxable income.

Let me know if you need any help with reporting.