Yes, with those numbers, I would expect about $1500 of taxable income. However, if the $12K figure comes from the taxable income line rather than the adjusted gross income line, the number would be higher. In addition, check to see if you fall under the Exceptions list:
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Use the Social Security Benefits Worksheet in these instructions to see if any of your benefits are taxable.
Exception. Do not use the Social Security Benefits Worksheet in these instructions if any of the following applies.
You made contributions to a traditional IRA for 2016 and you or your spouse were covered by a retirement plan at work or through self-employment. Instead, use the worksheets in Pub. 590-A to see if any of your social security benefits are taxable and to fig ure your IRA deduction.
You repaid any benefits in 2016 and your total repayments (box 4) were more than your total benefits for 2016 (box 3). None of your benefits are taxa ble for 2016. Also, you may be able to take an itemized deduction or a credit for part of the excess repayments if they were for benefits you included in gross income in an earlier year. For more details, see Pub. 915.
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