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dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
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HOW MUCH INCOME TAX DO WE HAVE TO PAY ON OUR SS BENEFITS

Customer Question

HOW MUCH INCOME TAX DO WE HAVE TO PAY ON OUR SS BENEFITS
Submitted: 12 months ago.
Category: Social Security
Expert:  Taxtom replied 12 months ago.

Hello,

Here are the basics

Tax Formula. Here’s a quick way to find out if you must pay taxes on your Social Security benefits: Add one-half of your Social Security to all your other income, including tax-exempt interest. Then compare the total to the base amount for your filing status. If your total is more than the base amount, some of your benefits may be taxable.

  • Base Amounts. The three base amounts are:
    • $25,000 – if you are single, head of household, qualifying widow or widower with a dependent child or married filing separately and lived apart from your spouse for all of 2014
    • $32,000 – if you are married filing jointly
    • $0 – if you are married filing separately and lived with your spouse at any time during the year
    • The first year of benefits you are allowed to make more.
  • I can give you a percentage if you can give me an estimate of your monthly benefit and other taxable income as well as marital status.
  • Thanks Tom

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