social security benefits

Forum|Forum|2 years ago
March 18, 2024
2 replies
14 views

Are the social security benefits received subject to self employment tax?

xmasbaby0

Level 15

No your SS benefits are not subject to self-employment tax.

Your self-employment income is subject to self-employment tax for Social Security and Medicare.

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

TomK2023

Level 15

No, it is not subject self-employment tax.

Whether or not your Social Security income is taxable depends on your total income, including your Social Security plus any other income. .

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.

TurboTax FAQ: Is my Social Security income taxable?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"