I understand how/if Social Security Disability is taxed.
My question is: if my SSD is taxed (let's say 85%), will that taxable amount be added to my total AGI thus (potentially) increasing my tax bracket? Or, is that 85% just taxed at my current tax bracket based on other income?
For example, filing single:
Thank you,
Drew
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Hi Drew! It could bump you into the next tax bracket. But, the tax rates are a tiered system, so only the amount above the previous income/tax bracket will be taxed at the next level of tax rate. You can find those tax brackets with income ranges/rates at this FAQ. What are the federal tax rates for 2018?
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