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To: jonrick46
It is...kind of

https://www.irs.gov/newsroom/dont-forget-social-security-benefits-may-be-taxable
>
To find out if their benefits are taxable, taxpayers should:
Take one half of the Social Security money they collected during the year and add it to their other income.
Other income includes pensions, wages, interest, dividends and capital gains.

-If they are single and that total comes to more than $25,000, then part of their Social Security benefits may be taxable.

-If they are married filing jointly, they should take half of their Social Security, plus half of their spouse's Social Security, and add that to all their combined income. If that total is more than $32,000, then part of their Social Security may be taxable.

Fifty percent of a taxpayer's benefits may be taxable if they are:
-Filing single, single, head of household or qualifying widow or widower with $25,000 to $34,000 income.
-Married filing separately and lived apart from their spouse for all of 2019 with $25,000 to $34,000 income.
-Married filing jointly with $32,000 to $44,000 income.

Up to 85% of a taxpayer's benefits may be taxable if they are:
-Filing single, head of household or qualifying widow or widower with more than $34,000 income.
-Married filing jointly with more than $44,000 income.
-Married filing separately and lived apart from their spouse for all of 2019 with more than $34,000 income.
-Married filing separately and lived with their spouse at any time during 2019.

85 posted on 02/18/2022 8:17:31 PM PST by stylin19a (If God wanted me to touch my toes, he’d have put them on my knees)
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To: stylin19a; jonrick46

IRS has a calculator for income tax on SS benefits for both me and my better angel.
I filled it in as if we only had SS income.
Filing jointly - both receiving almost maximum SS - paying taxes on $745.

so yeah taxed, but hardly.


86 posted on 02/18/2022 8:29:07 PM PST by stylin19a (If God wanted me to touch my toes, he’d have put them on my knees)
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