The withdrawal from your wife's IRA is significant, and may have pushed you into a taxable situation.
To find out if their benefits are taxable, you should:
- Take one half of both of your Social Security money collected during the year and add it to your other income.
Other income includes pensions, wages, interest, dividends and capital gains.
If you 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.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
