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Retirement tax questions
Per the INTERNAL REVENUE SERVICE
Your SOCIAL SECURITY BENEFITS may be taxable if the total of (1) one-half of your benefits, plus (2) all of your other income, including tax-exempt interest, is greater than the base amount for your filing status.
The base amount for your filing status is:
- $25,000 if you're single, head of household, or qualifying surviving spouse,
- $25,000 if you're married filing separately and lived apart from your spouse for the entire year,
- $32,000 if you're married filing jointly,
- $0 if you're married filing separately and lived with your spouse at any time during the tax year.
Top Frequently Asked Questions for Social Security Income
Also you may consult a Financial Planner or Tax Professional about your particular circumstances but in the meantime I will share with you a DIY (Do It Yourself) approach:
Tax Calculator 2023
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‎June 26, 2024
2:53 PM