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New Member
posted Jun 30, 2019 10:37:35 AM

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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3 Replies
Level 15
Jun 30, 2019 10:44:04 AM

50% or 85%?

 

Anywhere from 0% to 85% of Social Security can be taxable based on other income that includes taxable retirement income.

Not applicable
Jun 30, 2019 10:51:11 AM

yes,  other taxable retirement benefits are taken into account in determining the % of SSB's that are taxable.   

Level 15
Jun 30, 2019 10:54:01 AM

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.