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How do I calculate how much of my social security is taxable…

How do I calculate...

How do I calculate how much of my social security is taxable in 2018?

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Total income is from several sources and I am married and wifes income makes up about 50% of the total

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3/20/2018
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Hello. Thank you for choosing this Q&A service for assistance. My name is***** will be assisting you. I am prepping my response, which I will provide to you in the next thread(s).

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Customer reply replied 4 months ago
I am waiting for your response

Here's how it works: If you file as an individual and your combined income — by this, Social Security means adjusted gross income and nontaxable interest plus one-half of your Social Security benefits — is below $25,000, your benefits won't be taxed at all. If income is between $25,000 and $34,000, up to 50 percent of your benefits may be subject to tax. For income of more than $34,000, up to 85 percent of your benefits may be considered taxable income.

If you and your spouse file a joint return with a combined income below $32,000, your benefits are out of reach. For income between $32,000 and $44,000, up to 50 percent of benefits may be taxable, and up to 85 percent if combined income is more than $44,000.

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How to calculate taxable social security:

Whether or not your benefits are taxable depends on your combined income, which is defined as your adjusted gross income (AGI) plus your nontaxable interest income and one-half of your Social Security benefits.

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Customer reply replied 4 months ago
stop the stalling and simply answer the question please

Here's how it works: If you file as an individual and your combined income — by this, Social Security means adjusted gross income and nontaxable interest plus one-half of your Social Security benefits — is below $25,000, your benefits won't be taxed at all. If income is between $25,000 and $34,000, up to 50 percent of your benefits may be subject to tax. For income of more than $34,000, up to 85 percent of your benefits may be considered taxable income.

If you and your spouse file a joint return with a combined income below $32,000, your benefits are out of reach. For income between $32,000 and $44,000, up to 50 percent of benefits may be taxable, and up to 85 percent if combined income is more than $44,000.

---------------------------------

Whether or not your benefits are taxable depends on your combined income, which is defined as your adjusted gross income (AGI) plus your nontaxable interest income and one-half of your Social Security benefits.

---------------------------------

In closing, my goal is to provide you with the best experience possible! Hopefully, the service that I have provided has earned a 5-star rating! Please remember to rate my service by selecting the 5 stars at the top of the screen before you leave today. Thank you in advance. If you require further assistance, use the reply box and let me know.

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By the way, I was not stalling, I was gathering the information to provide you with a clear understanding as to how the calculation works.

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Customer reply replied 4 months ago
Thank you

You are very welcome. Please take the time to positively rate my response 3 or more stars so that I can receive credit for assisting. A 5 star rating is greatly appreciated.

Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Thank you for the positive rating. I do appreciate it.

You can see a sample of the calculation on page 7 of IRS Pub 915.

https://www.irs.gov/pub/irs-pdf/p915.pdf

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