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Question

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Submitted: 637 days and 22 hours ago.
Category: Finance
Value: $9
Status: CLOSED
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Optional Information

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Wyoming

Accepted Answer

A portion of your social security benefits may be subject to income taxes if the sum of 50% of the benefits plus all your other income exceeds the base amount of $25,000 if your filing status is single and $32,000 if your filing status is married jointly. The maximum portion that can be subject to tax is 85%. The following link provides more detail: http://www.irs.gov/newsroom/article/0,,id=179091,00.html

 

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Expert: Bill
Pos. Feedback: 100.0 %
Accepts: 
Answered: 2/24/2008

Financial Advisor

EA, QPA, CHFC, CEBS, CLU - 29 years experience providing financial advice

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