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Level 1
posted Jul 26, 2023 2:37:28 PM

Social Security

If you earn between less than $26,000 from my Military Retirement pay will you have to pay taxes on your social security if I earn around 14,000 from social security?

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1 Best answer
Employee Tax Expert
Jul 26, 2023 2:48:32 PM

Hi per960, thank you for your service!

 

Your military retirement benefits are considered income , which will affect the amount of your social security benefits that are taxable.

 

The IRS has a worksheet to help you calculate how much of your social security income is taxable if you would like to estimate prior to preparing your tax return; https://www.irs.gov/pub/irs-pdf/p915.pdf

 

I hope you find this information helpful!

Connie

1 Replies
Employee Tax Expert
Jul 26, 2023 2:48:32 PM

Hi per960, thank you for your service!

 

Your military retirement benefits are considered income , which will affect the amount of your social security benefits that are taxable.

 

The IRS has a worksheet to help you calculate how much of your social security income is taxable if you would like to estimate prior to preparing your tax return; https://www.irs.gov/pub/irs-pdf/p915.pdf

 

I hope you find this information helpful!

Connie