Minnesota
Related: About this forumSocial Security is not taxable
I have been working on TurboTax and I am looking at a draft of the Minnesota return and I am thinking something wrong. I need to look at all the forms.
I have been using spreadsheets from one year to the next.
But I look at this year form M1M: Income additions and subtractions. And there, on line 12, it says: "enter the full amount from Line 6b Form 1040!" This is the amount of taxable Social Security.(If below certain income levels).
I am still reading it again and again. Really changes the whole picture.
And we will get large refund which will be taxable on federal return 2024. Grrr..
OAITW r.2.0
(24,610 posts)Total income - Fed and State Tax.....integrate into a single filing system.
OAITW r.2.0
(24,610 posts)mobeau69
(11,156 posts)separate school district filing. There would be huge political aspects as well.
leftieNanner
(15,154 posts)Others as well.
But I think the tax services and CPAs have fought against a simplified tax code for ever.
mobeau69
(11,156 posts)progressive taxes. They love Steve Forbes flat tax. Ive heard maga types argue the benefits of regressive taxes and they dont even have a pot to piss in.
leftieNanner
(15,154 posts)Sales tax hurts lower income folks the most.
mobeau69
(11,156 posts)mobeau69
(11,156 posts)JohnSJ
(92,409 posts)question everything
(47,535 posts)Welcome.
mobeau69
(11,156 posts)question everything
(47,535 posts)Some residents who left Minnesota claimed that this was the reason.
mobeau69
(11,156 posts)question everything
(47,535 posts)state. Among the givers while red states are takers.
mobeau69
(11,156 posts)Skittles
(153,193 posts)your subject line simply is not necessarily true
question everything
(47,535 posts)Welcome
Skittles
(153,193 posts)Minnesota's tax code is designed to spare lower-income recipients who are most dependent on the monthly checks, while keeping Social Security taxable for well-off residents who have other sources of income. More than 50% of Minnesota households receiving Social Security pay no state taxes on their benefits.
dflprincess
(28,082 posts)I'll find out when I finally get around to doing my taxes. I started collecting Social last June, but I'm still working so I think I'll be paying tax to the state on at least part of my SS. (And despite have 10% of my Social withheld for taxes, I think I'll be paying in to the Feds as well.)
3Hotdogs
(12,409 posts)Our "froze" at the level it was at, 2 years ago.