It depends on the amount of your Social Security income in conjunction with your other income. Here's an illustration how your Social Security income is determined.
To determine this, the IRS considers 1/2 of your Social Security income combined with all other income. The thresholds for the combined income is as follows.
- If you're single, and your combined income is:
- Below $25,000: Benefits are not taxed.
- Between $25,000 and $34,000: Up to 50% of benefits may be taxable.
- Over $34,000: Up to 85% of benefits may be taxable.
2. If you're Married Filing Jointly, and your combined income is:
- Below $32,000: Benefits aren't taxed.
- Between $32,000 and $44,000: Up to 50% of benefits may be taxable.
- Over $44,000: Up to 85% of benefits may be taxable.
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