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Are Social Security Benefits considered taxable income

How do I enter it under wages & income without an Employer ID number?
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IsabellaG
Expert Alumni

Are Social Security Benefits considered taxable income

Social Security Benefits are sometimes taxable depending on how much other income you had for the year and your marital status.

You don't enter Social Security Benefits as wages. You would have received an SSA-1099, and you would report it under Retirement  Plans and Social Security, Social Security (SSA-1099, RRB-1099)

  • Tax Formula.  Here’s a quick way to find out if you must pay taxes on your Social Security benefits: Add one-half of your Social Security to all your other income, including tax-exempt interest. Then compare the total to the base amount for your filing status. If your total is more than the base amount, some of your benefits may be taxable.

  • Base Amounts.  The three base amounts are:
    • $25,000 – if you are single, head of household, qualifying widow or widower with a dependent child or married filing separately and lived apart from your spouse for all of 2014
    • $32,000 – if you are married filing jointly
    • $0 – if you are married filing separately and lived with your spouse at any time during the year

https://www.irs.gov/uac/Social-Security-Benefits-and-Your-Taxes1

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1 Reply
IsabellaG
Expert Alumni

Are Social Security Benefits considered taxable income

Social Security Benefits are sometimes taxable depending on how much other income you had for the year and your marital status.

You don't enter Social Security Benefits as wages. You would have received an SSA-1099, and you would report it under Retirement  Plans and Social Security, Social Security (SSA-1099, RRB-1099)

  • Tax Formula.  Here’s a quick way to find out if you must pay taxes on your Social Security benefits: Add one-half of your Social Security to all your other income, including tax-exempt interest. Then compare the total to the base amount for your filing status. If your total is more than the base amount, some of your benefits may be taxable.

  • Base Amounts.  The three base amounts are:
    • $25,000 – if you are single, head of household, qualifying widow or widower with a dependent child or married filing separately and lived apart from your spouse for all of 2014
    • $32,000 – if you are married filing jointly
    • $0 – if you are married filing separately and lived with your spouse at any time during the year

https://www.irs.gov/uac/Social-Security-Benefits-and-Your-Taxes1

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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