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# How much tax will we owe For 74.000 dollars. We areboth retired

Customer Question
in our 70s and...
How much tax will we owe For 74.000 dollars. We areboth retired in our 70s and make about 43.000 from pensions and soscial security
Submitted: 6 years ago.Category: Tax
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5/3/2011
Tax Professional: Lev, Tax Advisor replied 6 years ago
Category: Tax
Satisfied Customers: 30,611
Experience: Taxes, Immigration, Labor Relations
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LEV :

Hi and welcome to Just Answer!
To estimate your tax liability - we need to know each amount separately:
your social security benefits - ?
Any other income you have - ?

Customer:

Social sec for both 1811.00. Pensions 2675.00. Thats take home

LEV :

So - your social security benefits are \$1811*12=\$21732
and you do not have any other income - correct?

LEV :

You also mentioned income \$ 74.000 and \$43.000 - that you did not confirm - please verify if these are correct.

If your social security benefits are \$1811*12=\$21732
and your pensions are \$2675*12=\$32100 - assuming all taxable,
part of your social security benefits are taxable - \$5483
Assuming standard deduction, no dependents, no other deductions or credits - your estimated tax liability is \$1668.
Let me know if you need any help.

Category: Tax
Satisfied Customers: 30,611
Experience: Taxes, Immigration, Labor Relations
Verified
Tax Professional: Lev, Tax Advisor replied 6 years ago
You also mentioned income \$ 74.000 and \$43.000 - that you did not confirm - please verify if these are correct.
Do you have or expect to have any additional income besides your social security benefits and pensions?
Category: Tax
Satisfied Customers: 30,611
30,611 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

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