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Taxable SS double that of last year?

In doing my taxes for 2006 with TaxAct, I learn to my horror that our (married, filing jointly) taxable social security income is double that of 2005. What happened?

I did have a larger capital gain (12,000 vs 2,000). Is that why? Or did I miss something?

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Reply to
Harry Thompson
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Yep.

TaxACT has the equivalent of the paper version of the Taxable SS Worksheet. See what it shows, then pull up last year's return in TA2005 and see what the worksheet shows there, if you want to see the details.

-- Rich Carreiro snipped-for-privacy@animato.arlington.ma.us

Reply to
Rich Carreiro

Increased income in any form is liable to increase the portion of SSI that is taxable.

Reply to
Bill Brown

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Reply to
ed

Thanks everybody.

Horrors should be confined to movies. I hate seeing them on my tax return.

Reply to
Harry Thompson

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