marctu
Employee Tax Expert

Retirement tax questions

So, the concept here is "combined income".   Combined Income is your adjusted gross income plus nontaxable interest and half of your Social Security benefits for the year.

 

  • If your combined income is under $25,000 (single) or $32,000 (joint filing), there is no tax on your Social Security benefits.
  • For combined income between $25,000 and $34,000 (single) or $32,000 and $44,000 (joint filing), up to 50% of benefits can be taxed.
  • With combined income above $34,000 (single) or above $44,000 (joint filing), up to 85% of benefits can be taxed.

There is no exclusion amount.  Since your preference is to not cut a check, I would assume that 85% of your Social Security is taxable.   

 

Thanks again for the question  @Ounce440 

 

All the best,


Marc 

Employee Tax Expert

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