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in 2008 i received 17 238.40 social security and 30 119 in

Customer Question
wages. how much of my...
in 2008 i received 17 238.40 social security and 30 119 in wages. how much of my social security was taxable. i am single and head of household
Submitted: 7 years ago.Category: Tax
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3/1/2010
Tax Professional: Merlo, Accountant replied 7 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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HelloCustomer

 

As a single person, SS allows you a base of $25,000. You must then deduct half of your SS benefits from that base, and the result if what you are allowed to have in other income before any of your SS benefits become subject to tax. So in your case, the formula would be $25,000 minus $8,619 = $16,381. Any other income you have which exceeds $16, 381 makes part of your SS taxable.

 

Since your wages were $30,119, it works out that $8,527 of your SS benefits are also subject to tax.

 

If this was helpful please press the Accept button. Positive feedback is also appreciated.

 

Thank youCustomer/p>

 

 

Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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