Need to clarify what I've understood so far while trying to project tax due next year.
Married, filing jointly
Annual Combined SSA income: $ 45612.00
Annual Husbands Pension: $ 553.00
IRA Estimated Withdrawal: $13500.00
1/2 of SSA = $ 22806.00
Add pension: $ 553.00
Total: $ 23359.00
Adding IRA W/D: $ 13500.00
Total: $ 36859.00
MFJ=$ 32,000.00 to equal 50% tax on SS income
So we would be taxed on $ 4,859.00.
Is this correct?
Thank you,
