It is not the distribution
or lump sum, it is your husband's income. The benefits become taxable if your total income plus 1/2 of your social security benefits are more than 32,000. Regardless how much of the benefits you are getting, his 75,000 income is already more than the 32,000 threshold. Depending on your tax bracket, here's how you can estimate it. Multiply your total benefits by 0.85 and than multiply the result by your tax bracket percentage. You are most likely in 15% tax bracket. So, if your total benefits are 25,000 your calculation will:25,000 x 0.85 = 21,250 (that would be the taxable portion of your benefits included in income)21,250 x 0.15 = 3,188 (that would be the estimated
tax on your benefits) I am including a link to online tax calculator. If you enter actual income and actual amount of our benefits, you should get a pretty good how much of taxes you will be paying.Here's the link: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ If you want to give me the information, I can calculate it for you- your total benefits expected- total other income- pretax deductions
insurance through employer) I wish I had a better answer for you. I understand your frustration, the calculation don't take in account cost living adjustment
. 75K in NY is not the same as 75K in Alabama or Montana.