Question

Social Security Benefits Worksheet - Taxable Amount

Accepted Answer

If your income is modest, it is likely that none of your Social Security benefits are taxable. As your gross income increases, a higher percentage of your Social Security benefits become taxable, up to a maximum of 85% of your total benefits.The TaxAct® program will automatically calculate the taxable amount of your Social Security income (if any).

To view the Social Security Benefits Worksheet:

Online Navigation Instructions

From within your TaxAct Online return, click Print Center in the left column.
Click Custom
Click the checkbox(es) to the left of what you wish to print (the top section contains individual forms or schedules and the bottom section contains documents or worksheets). You may need to scroll down in the section to locate the item.
Click Print and then click the PDF link. Click the printer icon or save icon (available when you hover your mouse over the bottom of the PDF form) to print or save the PDF copy.

Note. If you see a message indicating you have not paid your return fees, click the View/Pay link, which will direct you through the Paper Filing steps. Continue through the screens until you have processed the payment for your product fees and then repeat the steps to print.

Desktop Navigation Instructions

Click Forms in the toolbar
Expand the Federal folder, then expand the Worksheets folder
Scroll down and double-click Form 1040 Taxable Social Security - Social Security Benefits Worksheet 1

This worksheet is based on the worksheet in IRS Publication 915 Social Security and Equivalent Railroad Retirement Benefits.