Page 22 - Supplement to Income Tax 2020

Additions & Corrections to the Text of Your Income Tax 2020

Worksheet 34-3 Figure Your Taxable Benefits if Your Provisional
Income Exceeds the $34,000 or $44,000
Adjusted Base Amount

1. Subtract your adjusted base amount ($34,000 or $44,000; see
Table 34-1) from your provisional income (Line 8 of Worksheet
34-1) and enter the excess provisional income here 1.

2. Multiply Line 1 by 85%. 2.

3. Enter your net Social Security benefits
(Line 1 of Worksheet 34-1). 3.

4. Multiply Line 3 by 85%. 4.
5. If Line 4 is more than Line 2, go to Line 6; leave this line blank.
If Line 4 is less than or equal to Line 2, 85% of your net Social
Security benefits, shown on Line 4, is taxable. This is the maximum
amount of benefits that can be taxed under the law. Enter the Line
4 amount as your taxable Social Security benefits here and on
Line 5b of Form 1040 or 1040-SR. Do not complete Lines 6-8. 5.

6. If Line 5 is blank, enter the smaller of (a) or (b):
(a) $6,000 if your adjusted base amount is $44,000, or $4,500
if your adjusted base amount is $34,000 (see Table 34-1), OR
(b) 50% of Line 3 (ie. 50% of your net Social Security benefits) 6.

7. Add Line 2 and Line 6. 7.

8. The smaller of Line 4 or Line 7 is taxable. Enter the smaller
amount as your taxable Social Security benefits here and on
Line 5b of Form 1040 or 1040-SR. 8.

Worksheet 34-4 Figure Your Taxable Benefits if You Are Married
Filing Separately and You Lived With Your Spouse at
Any Time During the Year

1. Enter your net Social Security benefits (Line 1 of Worksheet 34-1). 1.

2. Multiply Line 1 by 85%. 2.

3. Enter your provisional income (Line 8 of Worksheet 34-1). 3.

4. Multiply Line 3 by 85%. 4.

5. The smaller of Line 2 or Line 4 is taxable. Enter the smaller
amount as your taxable Social Security benefits here and on
Line 5b of Form 1040 or 1040-SR. 5.

18 | Supplement to J.K. Lasser’s Your Income Tax 2020