- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Hi Denise99,
Thank you for this question. Social Security is now means tested. The idea of means-testing is to ensure that Social Security benefits are going to people who really need them, which is how the program was designed in the mid-1930s. In a nut shell, If your income exceeds a certain amount, up to 85% of your social security can be taxed.
One half of your social security plus other taxable income must exceed $34,000. befor the income is subject to taxation. In your particular case, Income near $100K, 85% of the social security will be subject to taxes
Please see IRS Pub 915 page 15
https://www.ssa.gov/benefits/retirement/planner/taxes.html
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎November 16, 2022
10:36 AM