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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16547
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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I starting collecting SS benefits in 2015. I am at full

Customer Question

I starting collecting SS benefits in 2015. I am at full retirement age and continued to work. I received a SSA-1099SM form. do I havae to pay taxes on money that I already paid taxes on. please advise
Submitted: 9 months ago.
Category: Social Security
Expert:  Megan C replied 9 months ago.

Thank you for your question, my name is ***** ***** I will be happy to help you today.

Up to 85% of your social security benefits may be taxable, depending on your other income. If 1/2 of your social security plus 100% of your other income is greater than $25,000 ($32,000 if married filing jointly) then you will owe tax on at least a portion of your benefits. When you prepare your return, you will find out how much -- however, here's a calculator that also assists:

https://www.calcxml.com/calculators/how-much-of-my-social-security-benefit-may-be-taxed

Please let me know if you need anything additional. If not, please rate positive.