Do I pay taxes on ssid if my spouse worked?

Jcarraway74 — Sun, 21 Mar 2021 13:56:35 GMT

Ssid taxable if spouse worked?

Re: Do I pay taxes on ssid if my spouse worked?

DoninGA — Sun, 21 Mar 2021 13:58:34 GMT

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

Re: Do I pay taxes on ssid if my spouse worked?

xmasbaby0 — Sun, 21 Mar 2021 13:58:59 GMT

ALL of your income has to be entered on your joint return. Or if you file separate returns then ALL of your Social Security may become taxable.

Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.

TAX ON SOCIAL SECURITY

Up to 85% of your Social Security benefits can be taxable on your federal tax return. There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits. When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.

What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2017 that limit was $16,920 —for 2018 it will be $17,040—for 2019 it will be $17,640— for 2020 it will be $18,240) After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2020 Form 1040

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable

You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

Some additional information: There are 13 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. These states offer varying degrees of income exemptions, but four mirror the federal tax schedule: MN, ND,VT, and WV

topic Do I pay taxes on ssid if my spouse worked? in Get your taxes done using TurboTax

Do I pay taxes on ssid if my spouse worked?

Re: Do I pay taxes on ssid if my spouse worked?

Re: Do I pay taxes on ssid if my spouse worked?