I work pt. tm. and still pay into SS & medicare through work. I also get SS benefits because i'm retirement age. Do I have to pay taxes on the SS income that I receive?
I work pt. tm. and still pay into SS & medicare through work. I also get SS benefits because i'm retirement age. Do I have to pay taxes on the SS income that I receive?
Up to 85% of Social Security 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
To see the Social Security Benefits Calculation Worksheet in Turbo Tax Online version you would have to save your return with all the worksheets to your computer. Or if you are using the Desktop CD/Download Software you can switch to Forms Mode (click Forms in the upper right) and click on SS in the list on the left side.
It depends on the amount of other income you have on whether or not the Social Security benefits you receive will be taxable.
Up to 85% of Social Security Retirement/Disability/Survivors benefits becomes taxable when all your other income plus 1/2 your social security reaches: