- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Our joint income comes from Social Security and pensions. I show $27269 after standard deduction. You show $17,000
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Without seeing your information, (which I can not), I suspect that only a portion , (f any) of your social security benefits are being included in your taxable income. Here is why:
The taxability of Social Security Benefits depends upon:
- your filing status
- the total amount of your income and benefits for the year
For Married filing joint the base amount for determining if social security benefits are taxable is $32,000.
Calculation: Add 1/2 of your social security benefits (for both you and your wife) to your other income, and compare to the base amount above. If the total is more than the base amount ($32,000) some of your social security benefits may be taxable. If less, then your social security benefits are not taxable.
For more information see : Social Security (hold down the control key while you click)