1099SM

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If I received a final payment from social security in 2025 payable to me due to my mother’s death in 2024-is this payment taxable to me?

[DaveF1006 · Accepted solution]

Yes, it is taxable to you because, since this was made payable to you, it is considered "Income in Respect of a Decedent". Rather it is taxable to you or not depends on your overall income for the year. Here is an explanation.

Social Security is only taxable if your "overall income" (your other income plus half of your Social Security) hits a certain threshold. For 2025:

1. Single / Head of Household: If your total income is below $25,000, you pay $0 tax on this payment. 
2. Married Filing Jointly: If your combined income is below $32,000, you pay $0 tax on this payment.

If your income is higher than these amounts, up to 50% or 85% of the payment could be taxable at your ordinary income rate.