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Level 1

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

 
6 Replies
Level 20

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

Up to 85% of Social Security Retirement/Disability/Survivors benefits 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
Level 20

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

In your prior question, you mentioned an RMD. Be sure to count that amount  in the calculatoon..
Level 20

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

Example 1: You  currently have $20,000 of Social security benefits and no other income.
$32,000 -10,000 (half of your SS) = 22,000. You may add $22,000 of capital gains or other income and your SS will still not be taxable

Example 2: You  currently have $20,000 of Social security benefits and $12,000 in RMD.
$32,000 – 12,000 (RMD) – 10,000 (half SS) = $10,000. You may add $10,000 of capital gains or other income and you SS will still not be taxable
Level 1

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

RMD?
Level 20

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

Required Minimum Distribution.  When you turn 70 1/2 you have to start taking the RMD from your IRA and 401K accounts.
Level 20

How can I know how much I can sell of stocks and bonds without paying taxes on my social security, for filing married joint return?

"my only income is social security, and the required withdrawal since I am over 70-1/2"
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