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My adjusted gross income is $13,539. $8560 from a pension…

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My adjusted gross...

My adjusted gross income is $13,539. $8560 from a pension from my ex-husband, $14204 from SS and $4706 from a bank I retired from which I will no longer be receiving. Do I need to pay taxes on my Soc Sec.? My pension comes from TX

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

Don't think so

Submitted: 3 months ago.Category: Tax
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Answered in 6 minutes by:
3/25/2018
Tax Professional: Lev, Tax Advisor replied 3 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,140
Experience: Taxes, Immigration, Labor Relations
Verified

Here is a simple test

- take half of your social security benefits

$14204 / 2 = $7102

-- PLUS other taxable income

$8560 from a pension + $4706 from a bank = $13266

--- IF the total $7102 + $13266 is LESS than $25,000 for single person

THAN - none of your social security benefits are taxable

and your AGI adjusted gross income should be $13266

Let me know if you need any help with reporting.

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Tax Professional: Lev, Tax Advisor replied 3 months ago

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all Social Security / Tax related issues.
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