Is SS Federally taxed and do all states tax SS? I will take SS and combine it with my retirement. What would tax implications or brackets that I should be aware of?
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 not taxed by most states. Turbo Tax automatically subtracts it from the federal AGI on the state return.
On a federal tax 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:
For the 2024 tax year, nine states tax Social Security benefits: Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont and West Virginia. All other states and the District of Columbia do not tax the payments.
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 not taxed by most states. Turbo Tax automatically subtracts it from the federal AGI on the state return.
On a federal tax 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:
For the 2024 tax year, nine states tax Social Security benefits: Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont and West Virginia. All other states and the District of Columbia do not tax the payments.