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
(27,516 posts)Total income - Fed and State Tax.....integrate into a single filing system.
OAITW r.2.0
(27,516 posts)mobeau69
(11,401 posts)separate school district filing. There would be huge political aspects as well.
leftieNanner
(15,566 posts)Others as well.
But I think the tax services and CPAs have fought against a simplified tax code for ever.
mobeau69
(11,401 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
(15,566 posts)Sales tax hurts lower income folks the most.
mobeau69
(11,401 posts)mobeau69
(11,401 posts)JohnSJ
(95,152 posts)question everything
(48,529 posts)Welcome.
mobeau69
(11,401 posts)question everything
(48,529 posts)Some residents who left Minnesota claimed that this was the reason.
mobeau69
(11,401 posts)question everything
(48,529 posts)state. Among the givers while red states are takers.
mobeau69
(11,401 posts)Skittles
(157,326 posts)your subject line simply is not necessarily true
question everything
(48,529 posts)Welcome
Skittles
(157,326 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
(28,392 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
(13,221 posts)Our "froze" at the level it was at, 2 years ago.