Will I have to pay tax on SSI that my wife and I received in 2020 since I retired and received a severance pkg? I started in March her in Sept.

[greenview2017]

Will I have to pay tax on the Social Security Benefit I received in 2020 since I retired in Feb2020?

[AnnetteB6]

The answer depends on whether you are reporting other taxable income or only Social Security.  If Social Security is your only income, then it would not be taxed on your Federal return.  If you are reporting other income or filing a joint return and your spouse is reporting other income, then at least a part of the Social Security may be taxed.

Here is a link to the Social Security Administration web site that will give you some good information about what amount of your Social Security benefits may be taxable:  Benefits Planner - Income Taxes and your Social Security Benefit

First, take a look at your Adjusted Gross Income (AGI) on your return.  Add your AGI and any non-taxable interest and one-half of your Social Security.  This is your combined income.  

If your filing status is Single or Head of Household and your combined income is:

• Less than $25,000 then none of your Social Security is taxable
• Between $25,000 and $34,000 then up to 50% is taxable
• Greater than $34,000 then up to 85% is taxable

If your filing status is Married Filing Joint and your combined income is:

• Less than $32,000 the none of your Social Security is taxable
• Between $32,000 and $44,000 then up to 50% is taxable
• Greater than $44,000 then up to 85% is taxable

If your filing status is Married Filing Separate, then your Social Security is taxable.

If your benefits included a lump sum payment for prior years, then the calculation is much more complicated than stated here.  

[VolvoGirl]

By the way, A lot of times people say ssi when they are getting Social Security.  But ssi actually stands for supplemental security income.  It is different than SS.  You don't get a SSA-1099 for ssi and you do not report ssi on your tax return.