Yes you have to report it. It can be taxed but it is not “earned income”.
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 benefits are received are not reported as earned income.
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
Yes you have to report it. It can be taxed but it is not “earned income”.
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
If Trump dose away with social security tax and makes it nontaxable, Do I still have to pay taxes when I file.
@blondguy42 wrote:
If Trump dose away with social security tax and makes it nontaxable, Do I still have to pay taxes when I file.
That may be a proposal in the bill being assembled by Congress. Only Congress can change the tax code so until the bill passes through Congress and then signed by the President, nothing changes.