Not everyone has to pay taxes on their Social Security benefits. To see if your Social Security will be taxed, you have to look at your combined income and your marital status. “Combined income” in relation to social security income is Adjusted Gross Income plus nontaxable interest plus 1/2 of social security benefits.
- If you’re single and your total combined income for the year is between $25,000 and $34,000, then up to 50% of your benefits can be taxed.
- If you’re single and your total combined income for the year is greater than $34,000, then up to 85% of your benefits can be taxed.
- If you’re married filing jointly and your total combined income for the year is between $32,000 and $44,000, then up to 50% of your benefits can be taxed.
- If you’re married filing jointly and your total combined income for the year is greater than $44,000, then up to 85% of your benefits can be taxed.
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A Guide to Social Security Tax - TurboTax Tax Tips & Videos
