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saugiaqua
Returning Member

retirement taxable rate

my social security taxable income is  $19161 non-taxable income is $3381,  my net benefits for SS of 2023 is $ 22541.80 how you figure out these amounts of taxable and  non-taxable income above, tell me what is SS income tax table that i have to pay as i have married filing jointly with the adjustable income is  $ 48806

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1 Reply
MarilynG1
Expert Alumni

retirement taxable rate

The taxable amount of your Social Security is variable and different for each person, depending on the amount/types of other income on your return.

 

For those with additional sources of income, the key figure is the Modified Adjusted Gross Income (MAGI). The MAGI includes half of your Social Security, plus other sources of income. Once your MAGI exceeds the base amount for your filing status ($32,000 for Married Filing Jointly or $25,000 for all others), at least part of your Social Security income becomes taxable. The taxable portion of your Social Security income increases once you reach additional MAGI thresholds, up to a maximum of 85%. 

 

When you print/view/save your return as a PDF (with forms and worksheets), you will see a Social Security Benefits Worksheet that shows the calculations. 

 

Click this link for info on  Is My Social Security Taxable?

 

 

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