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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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How much income tax will i have to pay on my $18,000 ss

Customer Question

how much income tax will i have to pay on my $18,000 ss bnefits
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

If social security benefits is your ONLY income - it will not be taxable - and your tax liability would be ZERO.

But if you have any other income - let me know.

Expert:  Lev replied 12 months ago.

Social security benefits - may be partly taxable depending on other taxable income.

Here is a simple test.

- take a half of social security benefits

- PLUS other taxable income

- if the total is less than $25000 (for singles) or $32,000 (for married couples filing jointly) - none of social security benefits would be taxable

- if the total is more than the threshold - we would need to use a special worksheet to determine the taxable portion.

So far - in your situation - if $18,000 social security benefits is your ONLY income - none is taxable and your your tax liability would be ZERO.

But when your start a part time job earning $1000 per month - or $12,000 per year - that will be your taxable income

Your social security benefits $18,000 / 2 + $12,000 = $21,000 - that is less than $25k - and none of social security benefits would be taxable.

But if your earnings would be $2000 per month - or $24,000 per year - the situation could be different - and a part of social security benefits becomes taxable.

Let me know if you need any help to evaluate your situation.

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