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Retirement tax questions
If you are under full retirement age for an entire year, SSA will deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2023, that limit is $21,240.
In the year you reach full retirement age, they will deduct $1 in benefits for every $3 you earn above a different limit. Starting with the month you reach full retirement age, there is no limit on how much you can earn and still receive your benefits.
Hopefully this answers your question. Feel free to reply if you have any additional questions.
Below are links for additional information:
https://turbotax.intuit.com/tax-tips/irs-tax-return/a-guide-to-social-security-tax/L5QxGNcJL
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‎July 26, 2023
12:11 PM