1. SOCIAL SECURITY BENEFITS ARE TAX FREE IF YOU ARE:
- Single and have a modified adjusted gross income between $25,000
- Married filing a joint return and have a modified adjusted gross income of between $32,000
2. UP TO 50% OF SOCIAL SECURITY BENEFITS ARE TAXABLE IF YOU ARE:
- Single and have a modified adjusted gross income between $25,001 and $34,000
- Married filing a joint return and have a modified adjusted gross income of between $32,001 and $44,000
3. UP TO 85% OF SOCIAL SECURITY BENEFITS ARE TAXABLE IF YOU ARE:
- Single and have a modified adjusted gross income of over $34,000
- Married filing a joint return and have a modified adjusted gross income of over $44,000
- Married filing separated returns
"MODIFIED ADJUSTED GROSS INCOME" INCLUDES:
- Adjusted gross income as reported on tax return, PLUS
- Non-taxable income, PLUS
- One half of Social Security Benefit.
|
