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Retirement tax questions
Generally social security alone is not a taxable income but if you have other sources of income i.e. wages, pension and other retirement income, interest or dividends etc. up to 85% of your social security may be taxable depending on the total income and filing status.
Your 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.
https://www.irs.gov/faqs/social-security-income#:~:text=Your%20benefits%20may,the%20tax%20year.
So in short , your other income and half of social security benefits will determine your tax rate.
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