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November 16, 2022
Question

Do I Have to Pay Taxes on Social Security?

  • November 16, 2022
  • 1 reply
  • 0 views
  • I am 74 years old.  
  • I work part time and plan make about 32,000 this year.  I work as an independent contractor and receive a 1099 NEC form.
  • I receive $1881.00 a month from Social Security.  This is what I get from my husband who died. My husband died in 8/2022.   
  • Before he died, I received $967.00/month

Will I have to pay income taxes on the Social Security portion of my income?

    1 reply

    John-H2021
    November 16, 2022

    Hello

    If you earn between $25,000 and $34,000 per year as a single filer (or $32,000 to $44,000 if you’re married filing jointly), you will pay income taxes on up to 50% of your Social Security benefits. If you earn more than $34,000 (or $44,000 if you’re married filing jointly), you’ll pay taxes on up to 85% of your benefits. You will never be taxed on more than 85% of your Social Security benefits.

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