The portion of benefits that are taxable depends on your income and filing status.
To determine if your benefits are taxable, you should take half of the Social Security money you collected during the year and add it to your other income (income on 1099k).
- If you are single and that total comes to more than $25,000, then part of your Social Security benefits may be taxable.
- If you are married filing jointly, you should take half of your Social Security, plus half of your spouse's Social Security, and add that to all your combined income. If that total is more than $32,000, then part of your Social Security may be taxable.
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