Social Security is not taxable

[question everything]

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]

1. Wouldn't it be better if the States and the Fed got togather and made it a single bill?

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

[mobeau69]

3. LOL!

[OAITW r.2.0]

4. OK, how can I argue with that comment?

[mobeau69]

7. Way too many issues. For example: some states don't even have an income tax. Some states require both a state and a

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

[leftieNanner]

8. Washington State doesn't have income tax

Others as well.

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

[mobeau69]

13. States that don't have to get revenue in other regressive schemes like sales tax. Pukes, like in SC and TN hate

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.

[leftieNanner]

14. It's always for the benefit of the rich guys

Sales tax hurts lower income folks the most.

[mobeau69]

15. I was surprised that WA doesn't.

[mobeau69]

2. Firstly, your subject line isn't necessarily true. Secondly, what is the question?

[JohnSJ]

5. Exactly. It depends on your income.

[question everything]

9. True for Minnesota. This is the Minnesota Group

Welcome.

[mobeau69]

11. A state has no say with regard to federal tax laws.

[question everything]

12. Of course. But it can decide whether to tax the Social Security benefits. Many states do not

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

[mobeau69]

16. Wow, people leaving 'cause they don't tax SS! That certainly is counter intuitive!

[question everything]

17. Sorry. Misunderstood. They live because the state was taxing Social Security. And is considered a high tax

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

[mobeau69]

20. Thanks for clarifying.

[Skittles]

6. question everything

your subject line simply is not necessarily true

[question everything]

10. True for Minnesota as of last year. This is the Minnesota Group

Welcome

[Skittles]

19. here's what I read

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]

21. I think the change to Minnesota law is under $85K will not pay tax on their Social Security

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]

18. N.J. doesn't tax S.S. Also, seniors, 65+, earning $95k or less, get their property tax frozen.

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