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Submitted: 608 days and 10 hours ago.
Category: Tax
Value: $15
Status: AWAITING CUSTOMER ACTION
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liverpool, New York

Already Tried:
my total income is around 50000.00. shoul i have to pay tax on my social security income?

Answer

Social security benefits begin to become taxable when the sum of 50% of the benefits received plus all other income exceeds $25,000 if your filing status is single ($32,000 if married filing jointly). The following IRS link provides more detail:

http://www.irs.gov/newsroom/article/0,,id=179091,00.html

 

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Expert: Bill
Pos. Feedback: 99.6 %
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Answered: 3/24/2008

Enrolled Agent

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

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