I am considering retiring. How does receiving Social Security affect my taxes? Is Socially Security taxable Federal Income and/or State income Taxed?

[81rxv1te]

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?

[VolvoGirl · Accepted solution]

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.

[DoninGA · Accepted solution]

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:

• Married Filing Jointly - $32,000
• Single or Head of Household - $25,000
• Married Filing Separately - 0

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.