@mimsy wrote:
(1) If I understand correctly, that now means up to 85% of my SSDI becomes taxable?? So about 12.4k is taxable,
(2) I'd assume in the tax bracket we'd belong to, which would be 22%?
(3) So my spouse is just expected to cover an additional 2k on my behalf? Because where am I supposed to be getting 2k from?? This seems so backwards.
(4) It seems like we wouldnt qualify for the elderly/disabled deduction? I dont really understand. I see some articles say one spouse can qualify while the other doesnt, but that doesnt make sense if the income is joint.
(5) Because our combined income clearly isnt poverty, despite mine surely being, am i to assume we wouldnt qualify for ANY kind of useful deductions??
(1) Yes.
(2) No, if you file Jointly, after the Standard Deduction, you will likely be in the 12% Federal tax bracket. That means the sort-of direct Federal tax is more like $1500 (rules for States vary).
(3) No, if you file a Joint tax return, your spouse will end up paying LESS tax. To put it simply (1) The increased Standard Deduction (filing Jointly) will eliminate the tax on your SSDI, and (2) the 'tax brackets' are better for Joint. As I mentioned before, a Joint tax return will likely be in the 12% tax bracket. Before you got married, your partner was likely "Single" and with $80,000+ of income, much of that was in the 22% tax bracket. Now it is down to 12% because you are married (assuming you file Jointly).
(4) Correct.
(5) It is difficult to say because we don't know any of your other circumstances. That is why it is important to go through ALL of the questions in the tax program (or go to a tax professional to help you).
