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Level 2
Mar 28, 2021 5:40 PM UTC
Question

taxable social security

Do  Social security benefits get taxed when I take a distribution from my employee contribution retirement plan

    2 replies

    DoninGA
    Level 15
    Level 15
    Mar 28, 2021 5:42 PM UTC

    The SS benefits can be taxable based on the amount of other income being reported on your tax return.  The retirement plan distribution is taxable income.

     

    Up to 85% of Social Security Retirement/Disability/Survivors benefits becomes taxable when all your other income plus 1/2 your social security reaches:

    • Married Filing Jointly - $32,000
    • Single or Head of Household - $25,000
    • Married Filing Separately - 0
    tymbakeAuthor
    Level 2
    Mar 31, 2021 11:04 AM UTC

    Thank you.  Answer helped