nmr12354
Level 3
03-20-2021
03:30 PM
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Client age 69 received social security and unemployment. Client does not meet the income requirements for the full 85% of social security being taxed.
After the update for the $10,200 exclusion in ProSeries, the income went down but the amount of social security being taxed went up.
Is the taxability of social security linked to the exclusion? The social security benefits worksheet, line 3 seems to be off the value of the exclusion.
Am I missing something?
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itonewbie
Level 15
03-20-2021
03:44 PM
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Yes, it's linked because the definition of MAGI has been modified by conformity amendments of the ARP. See this thread for a more in-depth discussion:
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Still an AllStar
Still an AllStar
