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How does receiving Social Security affect my taxes?

SOLVEDby TurboTax953Updated October 02, 2023

Not everyone has to pay tax on their Social Security. There are specific income thresholds, along with marital status, that determine whether or not that income is taxed. We’ll calculate that for you. Just enter your income in the next section. Before you get started, here are some things to know about your Social Security income and your taxes.

1. It could be taxable, depending on your other income

Whether or not your Social Security income is taxable depends on your total income and your filing status. Your Modified Adjusted Gross Income (MAGI) includes half of your Social Security, plus any other income sources. Once your MAGI exceeds the base amount for your filing status ($32,000 for Married Filing Jointly, otherwise $25,000), at least part of your Social Security income becomes taxable. We’ll calculate all of this for you. Just enter your income and we’ll determine how much, if any, is taxable.

2. Your state might not tax your Social Security income at all

Many states exempt Social Security from taxation, either partially or completely. When you tell us about you and your income, we’ll determine how your state taxes Social Security and guide you through reporting it.

3. You need your Social Security Benefit Statement (SSA-1099)

Your SSA-1099 form has all the information you need when it comes to reporting your Social Security income. Enter the information from your form as it appears. We’ll ask you simple questions about it and calculate whether your Social Security income is taxable based on your entries.

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