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Is your Social Security taxable?
https://ttlc.intuit.com/community/income/help/is-my-social-security-income-taxable/00/25600
IRS Pub. 915 on Social Security. There is a worksheet on page 7.
i have heard him say that he makes 3k with the money he and his wife receive and that is already at the 36k mark now, and then whatever he makes from his job on top of that, so i believe his money will be taxed at what percentage, time will tell. That is if they hire a man his age for a 24.00 dollar an hour job at Target.
Here is a good Social Security page we just found for taxes on your benefits
https://www.ssa.gov/benefits/retirement/planner/taxes.html
I want to know if I had to take a job to be able to pay my bills
and I was 69 and collecting ss do I have to claim my ss on my taxes
Yes ... if you file a return you must enter all the income including the SS benefits ... they can be up to 85% taxable depending on how much other income you have. If 1/2 of your SS benefits + your other income = $25K ($32K married) or less then non of the SS benefits are taxable.
@etchofclass Yes, if you file a tax return you have to enter all of your income including your Social Security.
Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.
You are past full retirement age so you do not have to worry about your benefits being reduced by earning wages by working, but some of your SS might be taxable depending on how much you earned.
TAX ON SOCIAL SECURITY
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)
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.
To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2022 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 13 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. These states offer varying degrees of income exemptions, but four mirror the federal tax schedule: MN, ND,VT, and WV
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