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question everything

(47,535 posts)
Sun Feb 4, 2024, 11:12 PM Feb 2024

Social 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..


21 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Social Security is not taxable (Original Post) question everything Feb 2024 OP
Wouldn't it be better if the States and the Fed got togather and made it a single bill? OAITW r.2.0 Feb 2024 #1
LOL! mobeau69 Feb 2024 #3
OK, how can I argue with that comment? OAITW r.2.0 Feb 2024 #4
Way too many issues. For example: some states don't even have an income tax. Some states require both a state and a mobeau69 Feb 2024 #7
Washington State doesn't have income tax leftieNanner Feb 2024 #8
States that don't have to get revenue in other regressive schemes like sales tax. Pukes, like in SC and TN hate mobeau69 Feb 5 #13
It's always for the benefit of the rich guys leftieNanner Feb 5 #14
I was surprised that WA doesn't. mobeau69 Feb 5 #15
Firstly, your subject line isn't necessarily true. Secondly, what is the question? mobeau69 Feb 2024 #2
Exactly. It depends on your income. JohnSJ Feb 2024 #5
True for Minnesota. This is the Minnesota Group question everything Feb 2024 #9
A state has no say with regard to federal tax laws. mobeau69 Feb 5 #11
Of course. But it can decide whether to tax the Social Security benefits. Many states do not question everything Feb 5 #12
Wow, people leaving 'cause they don't tax SS! That certainly is counter intuitive! mobeau69 Feb 5 #16
Sorry. Misunderstood. They live because the state was taxing Social Security. And is considered a high tax question everything Feb 5 #17
Thanks for clarifying. mobeau69 Feb 5 #20
question everything Skittles Feb 2024 #6
True for Minnesota as of last year. This is the Minnesota Group question everything Feb 2024 #10
here's what I read Skittles Feb 5 #19
I think the change to Minnesota law is under $85K will not pay tax on their Social Security dflprincess Feb 5 #21
N.J. doesn't tax S.S. Also, seniors, 65+, earning $95k or less, get their property tax frozen. 3Hotdogs Feb 5 #18

OAITW r.2.0

(24,610 posts)
1. Wouldn't it be better if the States and the Fed got togather and made it a single bill?
Sun Feb 4, 2024, 11:28 PM
Feb 2024

Total income - Fed and State Tax.....integrate into a single filing system.

mobeau69

(11,156 posts)
7. Way too many issues. For example: some states don't even have an income tax. Some states require both a state and a
Sun Feb 4, 2024, 11:43 PM
Feb 2024

separate school district filing. There would be huge political aspects as well.

leftieNanner

(15,154 posts)
8. Washington State doesn't have income tax
Sun Feb 4, 2024, 11:43 PM
Feb 2024

Others as well.

But I think the tax services and CPAs have fought against a simplified tax code for ever.

mobeau69

(11,156 posts)
13. States that don't have to get revenue in other regressive schemes like sales tax. Pukes, like in SC and TN hate
Mon Feb 5, 2024, 12:11 AM
Feb 5

progressive taxes. They love Steve Forbes’ flat tax. I’ve heard maga types argue the “benefits” of regressive taxes and they don’t even have a pot to piss in.

question everything

(47,535 posts)
12. Of course. But it can decide whether to tax the Social Security benefits. Many states do not
Mon Feb 5, 2024, 12:09 AM
Feb 5

Some residents who left Minnesota claimed that this was the reason.

question everything

(47,535 posts)
17. Sorry. Misunderstood. They live because the state was taxing Social Security. And is considered a high tax
Mon Feb 5, 2024, 12:37 AM
Feb 5

state. Among the “givers” while red states are “takers.”

Skittles

(153,193 posts)
19. here's what I read
Mon Feb 5, 2024, 01:32 AM
Feb 5

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)
21. I think the change to Minnesota law is under $85K will not pay tax on their Social Security
Mon Feb 5, 2024, 11:13 PM
Feb 5

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)
18. N.J. doesn't tax S.S. Also, seniors, 65+, earning $95k or less, get their property tax frozen.
Mon Feb 5, 2024, 12:44 AM
Feb 5

Our "froze" at the level it was at, 2 years ago.

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