Social Security - Is it Taxable?
Answer:
Generally, if your provisional income is more than a base amount, the difference is taxable,
Generally, Provisional income = total income plus half your social security received plus tax exempt interest minus certain adjustments.
The base amount is $25,000 for filing status of single, head of household, widower and married filing separately.
The base amount is $32,000 for filing status of married filing jointly.
Generally, Provisional income = total income plus half your social security received plus tax exempt interest minus certain adjustments.
The base amount is $25,000 for filing status of single, head of household, widower and married filing separately.
The base amount is $32,000 for filing status of married filing jointly.