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Level 1
March 10, 2022
Question

Do I have to pay tax on social security benefits?

  • March 10, 2022
  • 2 replies
  • 19 views
If social security is my only income, do I have to pay tax on it?

2 replies

VolvoGirl
Level 15
March 10, 2022

No it is not taxable and don't need to file a return unless you are married are your spouse has income.  Then it might make part of your Social Security taxable.

Level 2
March 10, 2022

Yes, but not all of it.  The amount taxed varies from 0% to 85% depending on a formula the IRS uses based on total income.  I never understood the formula so I left to TurboTax to figure it out.  This year I paid Federal taxes on 55% of my Social Security.