Comments on: How Social Security Income is Taxed http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/ It's all about the refund Tue, 21 May 2013 20:45:12 +0000 hourly 1 http://wordpress.com/ By: Jim http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-48480 Mon, 15 Apr 2013 01:33:37 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-48480 In other words If I make a “combined income” of $35,000, ($17,000 IRA distributions) + ($10,000 1/2 ofSS) + ($8,000 W2s) the amount over $32,000 or $3000, then %50 of this amount will be taxed. So its actually the combined income product OVER $32,000, ($3000) or 50% of it will be taxed ?

]]> By: Charles Robinson http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-48454 Sun, 14 Apr 2013 17:23:23 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-48454 Hello friend @ Turbotax
I received SS disability in the amount of
$15,259 and a small pension that payed me
$9,582 for a total of $24,841 of which my Social Security disability is %62.33
Do I need to pay taxes on the SSDI and if so, how do I figure it?
Thank you

]]> By: judy http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-48127 Tue, 09 Apr 2013 08:24:08 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-48127 i am single and receive a total of 42,000 a year but have 1 other dependent. do i get a break on my total income that would reduce my ss income tax?

]]> By: Jan http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-48109 Mon, 08 Apr 2013 23:29:49 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-48109 On the SS form, line C says, ‘Enter your total income that is taxable.’ Would that be the amount from line 43 on the 1040 form?” It’s called ‘Taxable Income’ and is after deductions are subtracted. Sorry if this seems obvious, but I just don’t want to make a mistake.

]]> By: jere http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-47418 Fri, 29 Mar 2013 01:25:08 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-47418 Hi–thanx for taking the time to answer questions! My husband is 10 years older than me. He will be retiring much sooner, and I will continue to work. My question is, is my non-ss income from working considered as this “other” income when calculating the taxable amount of his benefit? Thanks!

]]> By: jamaal http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-45138 Fri, 08 Mar 2013 16:03:11 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-45138 hello
If my son who is 5 years old gets SS Benefits/income (deceased parent) do I add that income to my taxes/ taxable income or should I file a separate tax return for him

]]> By: Richard Kleifgen http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-41689 Tue, 12 Feb 2013 15:15:42 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-41689 The first Social Security check that my wife received was FOR the month of Dec. 2012 but the check was received in Jan. 2013. Will this Social Security amount be reported on our 2012 return or on our 2013 return ?

]]> By: priscilla parham http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-41560 Mon, 11 Feb 2013 21:07:47 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-41560 I need help trying to get my tax. I get ssi and disablertte

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-39682 Mon, 04 Feb 2013 05:22:31 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-39682 Hi Marie,
Typically if social security is your only income it would not be taxable. If you have other income in addition to social security and the combined income is 34,000 to 44,000 then up to 50% would be taxable.
Thank you,
Lisa Greene-Lewis

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-39501 Sun, 03 Feb 2013 05:27:13 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-39501 Hi Sherry,
Generally people don’t have to pay taxes when they just have social security income. If you have other income it may be taxed, but the amount your daughter earned was low. If your daughters combined income was between $25,000 and $34,000 then up to 50% of the social security income would be taxable. I don’t know the total she received but if the $808 she earned plus social security is below $25,000 she probably won’t need to file.
Thank you,
Lisa Greene-Lewis

]]> By: Marie Bohanan http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-39019 Fri, 01 Feb 2013 14:43:15 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-39019 If husband and wife total income is from ss of 34,000 filing jointly, will we be taxed on that for 2012? Does age figure into the equation?

Thank you.
Marie

]]> By: Sherry Delgado http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-38844 Thu, 31 Jan 2013 22:43:20 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-38844 My daughter receives SSI. She’s 22. Is she taxed on her monthly benefit?

She earned $808.00 last year working a little side job. I just wanted to confirm if she owes Federal and State tax on those earnings as well. I slipped up and didn’t file anything on those earnings for 2011. If she owes, what is the penalty we would owe?

Thank you so much!!

]]> By: Chris Klaassen http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-38516 Wed, 30 Jan 2013 22:41:02 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-38516 I am doing my taxes by hand. where can I find the % chart and taxable amount of my SS. I am on SSDI, is that still taxed

]]> By: Clint Perkins http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-38255 Mon, 28 Jan 2013 22:58:46 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-38255 Sorry, the right amount is NOT $29,500 BUT $20,500.

]]> By: Clint Perkins http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-38254 Mon, 28 Jan 2013 22:57:38 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-38254 My wife and I have a combined income of 20,500 for 2012.
$7,103 of the $29.500 is my Social Security payments.
Will we be taxed on the $7,103 I received from Social Security?

]]> By: CB http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-35485 Tue, 24 Jul 2012 19:50:58 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-35485 My wife and i bring home 47K in SS benefits + 20K pension. Will i have to pay taxes on my SS and in what percentage? and for how long?

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-32232 Sat, 03 Mar 2012 01:33:38 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-32232 Hi Heidi,
Yes if you have other income it is all added together to determine how much will taxed. Depending on your filing status and total income 50 – 85% of your income may be taxed per the blog post.
Thank you,
Lisa Greene-Lewis

]]> By: Heidi Torda http://blog.turbotax.intuit.com/2012/02/13/how-social-security-income-is-taxed/#comment-32206 Fri, 02 Mar 2012 07:05:34 +0000 http://blog.turbotax.intuit.com/?p=7676#comment-32206 When determining what amount of SS income is taxed, is the social security income taxed if it is your only income? Is it added to our other income to determine how much tax is paid?

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