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Retirement tax questions
@RLMcfox - there is federal income tax and state income tax.
yes, for federal income tax purposes, up to 85% of social security can be considered taxable income.
but if you are filing Illinois state tax, the taxable social security from the federal return is eliminated from the state return, i.e. the State of Illinoit does not tax your social security income.
December 17, 2022
2:07 PM