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socrateaser
socrateaser, Lawyer
Category: Tax
Satisfied Customers: 38130
Experience:  Retired (mostly)
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I will begin receiving social security benefits in April, 2011.

Resolved Question:

I will begin receiving social security benefits in April, 2011. Mywife and I file a joint return and have other retirement income of $63,315.24. The social security amount will be about $1362 per month. What would our tax liability be for 2011?
Submitted: 6 years ago.
Category: Tax
Expert:  socrateaser replied 6 years ago.
Assuming that both you and your spouse are 65+ and that your retirement income is taxable, then your total tax, given only a standard deduction, married filing jointly, and $16,344 in income, your federal tax would be $8,574.

Hope this helps.

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Customer: replied 6 years ago.

I AM 62 AND MY SPOUSE IS 61. WE HAVE SERS, OPERS, AND BALL CORP. RETIREMENT INCOME.

Customer: replied 6 years ago.

INFORMATION FOR 61 AND 62 YEAR OLDS IN 2011. NEITHER OF US ARE 65 YET.

Expert:  socrateaser replied 6 years ago.
$8,582.
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