If my social security benefit is $3400.00 per month and my other monthly income is $2340.00 pre-tax how much will I be taxed?

[xmasbaby0]

We do not have enough information----we do not know your filing status, for one thing.  Married?  Single?   Head of Household?    We do not know if you are in a state that taxes Social Security.   

Try the TaxCaster tool.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Up to 85% of your Social Security benefits can be taxable on your federal tax return.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable. 

 What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2019 it was $17,640— for 2020 it was $18,240; for 2021 it was  $18,960.  For 2022 it was  $19,560  —  for 2023 $21,240)  For 2024, $22,320.

After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.  If you work as an independent contractor then you will pay self-employment tax for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2023 Form 1040

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable

You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

Some additional information:  There are 11 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, and Vermont  These states offer varying degrees of income exemptions, but two mirror the federal tax schedule: MN and VT.

The tax laws for 2024 will change——for  tax year 2024 Missouri and Nebraska will no longer tax SS

[rjs]

There are other things that affect the amount of tax you have to pay besides the things that xmasbaby0 mentioned. Some other information that we don't have is the nature of your other income. Is it wages, self-employment, pension or other types of retirement income, investment income, etc. If it includes investment income, is some of it qualified dividends or long-term capital gains? We also don't know if you have any dependents, and what deductions or credits you might qualify for.

"How much will I be taxed?" is not a simple question. The only way to answer it is to prepare a hypothetical tax return, or use an estimator like the one that xmasbaby0 suggested.

[NCperson]

@bobg3089 - I will do this by simply assuming the $3400 of social security and the $2340 of other month income is ALL your income and that $2340 is all pension money; there are no dividends/ capital gains, etc.   I'll further assume you have no dependents and you are not blind and you are both at least 65 years old. 

if you file SINGLE, the total tax will be around $3200.

if you file JOINT, the total tax will be around $550.

this website is loaded with the 2024 assumptions (and is where I determined the answers above).  TaxCaster is using 2023 assumptions, so the answers will be slightly higher than using 2024 assumptions

https://www.dinkytown.net/java/1040-tax-calculator.html