I am trying to maximize my withdrawals from my Ira without any negative tax consequences, particularly as it applies to how my social security is taxed. I can I figure out if I can take more than my RMD without a negative impact. Currently I am not paying any taxes. Jeff Bronn
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To figure out how much other income you can report on your return before your Social Security becomes taxable, you need to know your total Social Security received for the year and your filing status.
Take half of your total Social Security and add it to your other taxable income (like your IRA withdrawal) and compare it to $32,000 (for Married Filing Joint) or $25,000 (for all other filing statuses). If the total exceeds the threshold based on your filing status, then the Social Security becomes at least partially taxable.
Take a look at the following TurboTax help article to learn more:
Is my Social Security income taxable?
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