gs4
Level 1
03-28-2024
01:51 AM
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The problem is when there is less than the maximum 85% taxable social security, then it does become circular. I did just trial and error it to get it to the 80% NOL deduction which corresponds to the taxable amount of social security. It took me 7-8 iterations, but if I were thinking more, probably 5-6 times would get it. (Btw, Drake Software does the calculation.)