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Retirement tax questions
@VolvoGirl wrote:
@Opus 17 What formula is 6,000?
Half their social security is $5000, plus the lottery winnings of $1000=$6000. Since that is less than $25,000 or $32,000, their social security will not be taxable. In addition, the $1000 is not taxable since it is less than the standard deduction, as long as they don't have other income, and aren't filing MFS.
‎July 23, 2023
9:23 PM