The taxable portion of social security benefits that is taxable is less than half. Only 50% of your benefits are reported and used to calculate the taxable portion of benefits. Then, up to 85% of the remaining benefits can be taxable. However, how much is taxable depends on your income and filing status. Please view the Turbo Tax FAQ below for more information on how taxable benefits are calculated.
If you would like direct access to the social security benefit worksheet, please visit the IRS link below.