Some taxpayers have to pay federal income tax on their Social Security benefits. This usually happens when the taxpayer has other substantial income such as wages, self-employment, interest, dividends, or any other taxable income in addition to their Social Security benefits. Taxpayers will receive a Form SSA-1099 showing the amount of benefits they received for the previous year.
The Social Security Benefits worksheet is used to determine the amount of social security income that is taxable. To enter Social Security Benefits in TaxSlayer Pro, from the Main Menu of the Tax Return (Form 1040) select:
- Income Menu
- Social Security Benefits (1099-SSA, RRB-1099)
- Select either Taxpayer's Net SS Benefits or Spouse's Net SS Benefits, as appropriate
- Enter the Net Social Security Benefits from Box 5
- Enter the Deductible Medicare Premiums, if any, from Box 3 of the SSA-1099
- Enter Federal Tax Withheld from Box 7 of the SSA-1099 or Box 10 of the RRB-1099
To see the Social Security Benefits Worksheet, when at the Social Security Menu, click the black magnifying glass icon in the toolbar at the top of the screen.
NOTE: This is a guide on entering Form SSA-1099 into TaxSlayer Pro. This is not intended as tax advice.