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Does Social Security look at IRA and Pension income the same as ordinary income in regards to being taxed at either 50% or 85%
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Retirement tax questions
50% or 85%?
Anywhere from 0% to 85% of Social Security can be taxable based on other income that includes taxable retirement income.
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Retirement tax questions
yes, other taxable retirement benefits are taken into account in determining the % of SSB's that are taxable.
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Retirement tax questions
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0
Social Security is on 1040 line 5a and the taxable amount on 5b.
To see the Social Security Benefits Calculation Worksheet in Turbo Tax Online version you would have to save your return with all the worksheets to your computer. Or if you are using the Desktop program you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the left side.