Are Social Security Benefits Taxable?
If you received or will be receiving Social Security benefits, you should know that some or most of the Social Security benefits may be subject to the income taxes. Depending on your taxable income, up to 85% of your Social Security benefits may be taxable. Here are some facts that will help you determine whether your Social Security benefits are taxable.
- $32,000 for married couples filing jointly.
- $25,000 for single, head of household, qualifying widow/widower with a dependent child, or married individuals filing separately who did not live with their spouses at any time during the year.
- $0 for married persons filing separately who lived together during the year.
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