DawnC
Expert Alumni

Retirement tax questions

No, it has not changed, but your total income probably did.   Whether or not your Social Security income is taxable depends on your total income, including your Social Security plus any other income.  Generally speaking, if your only income is Social Security, you probably don't make enough money to be required to file a federal tax return.

 

For those with additional sources of income, the key figure is the Modified Adjusted Gross Income (MAGI).   The MAGI includes half of your Social Security, plus other sources of income. Once your MAGI exceeds the base amount for your filing status ($32,000 for Married Filing Jointly or $25,000 for all others), at least part of your Social Security income becomes taxable. The taxable portion of your Social Security income increases once you reach additional MAGI thresholds.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post