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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121223  
Subject: Re: A Pox on Turbo Tax Date: 5/19/2010 7:32 PM
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I have to admit, I am a dummy when it comes to taxes. Always had a CPA and just started with TT in 2007 because my taxes are not that convoluted and CPA was charging me $500.

I have to admit I don't understand what follows. <g>

I was on the phone today with TT for three+ hours. It seems that they neglected to report that they deducted Medicare payments under SS and everyone who included it with their medical insurance payments have to amend their tax returns and of course pay more $$$. That be me.

Who neglected to report? Medicare B and/or Medicare D payments are deductible as medical insurance. So, I don't understand what your problem was. Perhaps, you forgot to use the numbers reported to you on Form SSA-1099 when you prepared your return?

I just do what TT says when filling out my returns. I also had an issue that they report my SS payments as being more 2009 than 2008. SS was not increased 2009 and no one seems to be able to help with that one. So now I am thinking they probably did not deduct enough from my Medicare payments which are currently $220 per/m because of RMD income. Seems the person I spoke with is not a CPA and really knows nada. He asked me what an RMD is LOL.

Your SS payments should have been more in 2009 than 2008 as there was a COLA increase. Your net monthly deposit may have decreased if your income is high enough to require additional payments towards Medicare coverage, but again, all of this is included in the SSA-1099.

I've not heard of anyone else having problems with TurboTax and Social Security payments, so I can only surmise that you entered the wrong data.

Ira
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