1040-US: Taxable social security income calculation on the Tax Projection Worksheet

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

Change to CS Support service hours

Our Support department is closed on [[date]]. However, limited UltraTax CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline.

Links to our most popular tax processing topics are available in the Alerts and notices section on the right side of most pages.

Question

How does the Tax Projection Worksheet project next year's Taxable Social Security Income?

Answer

UltraTax CS automatically applies the next year social security cost of living adjustment (COLA) to current year gross social security benefits. In the case of survivor benefits, the greater of the Taxpayer or Spouse's portion of current year benefits are used in the calculation of next year's taxable benefit amount.

Note: The survivor benefits are only calculated when there is a current tax year date of death entered for either the taxpayer or spouse and the filing status for next year is expected to be either Single or Qualified Widow(er).

Related topic: Tax Projection Worksheet FAQs (1040)

Share This