Will we owe taxes?

[greensearose]

My husband and I are both receiving SS benefits and we are both full retirement age.  I no longer work however, my husband is continuing to work full time.  We are aware that if you are full retirement age you can earn as much as you wish (according to SS) but will we be dinged when it is time to file taxes at the end of the year?  Thank you!

[Alicia65]

It all depends on how much your husband makes. You are right you can make as much as you want without penalty.  But if in your case married filing jointly your additional income cannot exceed $32,000. Your social security begins to be taxed after that threshhold.

Your combined annual income	How much of your Social Security benefit is taxable
$25,000 or less	None
Between $25,000 and $34,000	Up to 50%
More than $34,000	Up to 85%

Is my Social Security income taxable?

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