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Level 2
March 28, 2021
Question

taxable social security

  • March 28, 2021
  • 1 reply
  • 9 views

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

    1 reply

    DoninGA
    Level 15
    Level 15
    March 28, 2021

    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
    March 31, 2021

    Thank you.  Answer helped