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Form Instruction 1040 Line 20a & 20b Texas: What You Should Know

You can save the worksheet in your computer, print it, fill out lines 20a & 20b in the forms you fill out the online form.  Get IRS Instruction 1040 Line 23 and the Form 1020 Statement for Social Security Taxes The following instructions apply if federal tax was withheld on at least 8% or more of your social security pay, including Medicare, and there is income from other sources you should deduct from that withholding. If you do not have other income from other sources that qualifies as income from self-employment, line 24b applies. It says to add the amount of social security, Medicare, unemployment and workers' compensation (including your wages from that benefit) withholding that exceed the amount of social security benefits you are taking as income. If you have income from other sources (e.g., interest and dividends) that qualifies as income from self-employment, line 24b does not apply. Line 25 is the number on which you calculate the Medicare part of your social security withholding. You may want to ask the Payroll Deductions Assistant or the Taxpayer Assistance Center information about Line 25.  If this amount includes more than a month of social security income, use line 33 to claim your refund in line 22a of the form 1040 for the period for which the excess social security withholding applied. Do not deduct the amounts withheld. Line 13 should be adjusted by 0.25 (to account for any withheld excess social security tax or interest that was not applied to your social security withholding). If you receive a social security check in the form of a certificate of deposit you should report that on line 25 of the form 1040 (or use the social security credit on line 8 of the 1040A. If the check is for other than qualified dividends or qualified long-term capital gains, include it on line 24b of the Form 1040. See Form 8962 for more information. If you have a qualifying child, use the line 28. If the amount from line 25 is equal to or less than the amount from the line 24b social security part of your Form 1040-T, you should enter the amount from line 20a or line 24b as a deduction on line 9. Do not deduct social security taxes paid. Line 9 is the amount from line 20a or line 24b Line 26 is the amount from line 23a of the form 1040.

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