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June 5, 2019
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How much of my social security is taxable.

  • June 5, 2019
  • 1 reply
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Best answer by bluedeb

It depends on how much income you have and filing status. For the 2018 tax year, single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits. If your combined income was more than $34,000, you will pay taxes on up to 85% of your Social Security benefits.

For married couples filing jointly, you will pay taxes on up to 50% of your Social Security income if you have a combined income of $32,000 to $44,000. If you have a combined income of more than $44,000, you can expect to pay taxes on up to 85% of your Social Security benefits.

https://www.fool.com/retirement/2016/06/06/social-security-tax-calculator-are-your-retirement.aspx

1 reply

bluedeb
bluedebAnswer
Employee
June 5, 2019

It depends on how much income you have and filing status. For the 2018 tax year, single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits. If your combined income was more than $34,000, you will pay taxes on up to 85% of your Social Security benefits.

For married couples filing jointly, you will pay taxes on up to 50% of your Social Security income if you have a combined income of $32,000 to $44,000. If you have a combined income of more than $44,000, you can expect to pay taxes on up to 85% of your Social Security benefits.

https://www.fool.com/retirement/2016/06/06/social-security-tax-calculator-are-your-retirement.aspx

bluedeb
Employee
June 5, 2019
Enter your information into TurboTax and the program will calculate any taxes.