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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35309
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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2014 pensions $29,286 social security $23,115 is any of the

Customer Question

2014
pensions $29,286 social security $23,115
is any of the social security taxable by the IRS?
Submitted: 1 year ago.
Category: Social Security
Expert:  LawTalk replied 1 year ago.
Good afternoon,
I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.
You asked: is any of the social security taxable by the IRS?
Yes, your social security benefits will be taxable, and the amount of them taxes will depend on your filing status. Let me explain.
You can do the following quick computation to determine whether some of your benefits may be taxable:
A. First, add one-half of the total Social Security benefits you received to all your other income, including any tax exempt interest and other exclusions from income.
B. Then, compare this total to the base amount for your filing status. If the total is more than your base amount, some of your benefits may be taxable.
If you are married filing jointly, your base amount is $32,000.
If you are single, your base amount is $25,000.
If you file a federal tax return as an "individual" and your combined income* is between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits. If it is more than $34,000, up to 85 percent of your benefits may be taxable.
If you file a joint return, and you and your spouse have a combined income* that is between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits. If it is more than $44,000, up to 85 percent of your benefits may be taxable.
Your adjusted gross income + Nontaxable interest + ½ of your Social Security benefits = Your "combined income".
You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.
Please remember to rate my service to you so that I can be compensated for helping you.
I wish you and yours the best in 2015,
Doug

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