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Returning Member
posted Jul 15, 2021 9:59:48 AM

Social Security Payment Taxes

I understand that our social security payments can be taxed but im struggling to understand the amount of taxation. Is it 85% of SS is taxed above a certain AGI?  

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1 Replies
Expert Alumni
Jul 15, 2021 10:18:57 AM

Hi there,

Your social security income may or may not be subject to income tax, depending on your total income.

If your Social Security Income is taxable then it is taxed at the standard tax rate based on your total income. Whether or not it is taxable and how much of it is taxable is based on your income outside of Social Security, as well as your filing status.

You may find this link informative: https://www.ssa.gov/benefits/retirement/planner/taxes.html