It is hard to give you an exact dollar amount, but you can play around in the program and then abandon the return. It would depend if you take the standard deduction or itemize or if you might have some other income this year.
A quick way to find out if any of your benefits may be taxable is to add one-half of your Social Security benefits to all your other income, including any tax-exempt interest. Next, compare this total to the base amounts below. If your total is more than the base amount for your filing status, then some of your benefits may be taxable.
The three base amounts are:
It is hard to give you an exact dollar amount, but you can play around in the program and then abandon the return. It would depend if you take the standard deduction or itemize or if you might have some other income this year.
A quick way to find out if any of your benefits may be taxable is to add one-half of your Social Security benefits to all your other income, including any tax-exempt interest. Next, compare this total to the base amounts below. If your total is more than the base amount for your filing status, then some of your benefits may be taxable.
The three base amounts are:
...a big BUT...though.
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IF you really are using the "Online" software.
IF you've already filed your 2019 tax returns, do not touch your 2019 tax file in that Online account or you will destroy your 2019 tax file. Use a new separate Online account.
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IF you are instead using the "Desktop" software, just save your 2019 tax file to a second Test filename with Save-As...then you can fool around in that new test file all that you want and use your already entered 2019 data as the starting point
if your only income reported on your tax return is social security, you will not pay any taxes if there is no reportable income to combine it with.
Dave~~
Thanks for your reply.
I am wondering if my SS stays the same for 2020 AND I take an unexpected withdrawal from IRA, how much can I take before being taxed. We are married filing joint.