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Retirement tax questions
Good morning, social security benefits can be taxed at a rate of zero to 85%. The literature you are reading is to determine if any of the benefits will be taxable. You calculate 50% of your social security benefits plus other- income to arrive at the limit. This is calculated before your standard deduction or any available credits. I hope this explains the process. Feel free to reply if you still have questions and thank you for participting in this ask the expert event.
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‎July 26, 2023
11:45 AM
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