Income Taxes on Social Secuity Benefits
In a nutshell, cam someone explain how to figure out what percentage of social secutity benefits are taxable? I think that up to 85% of benifits are taxable but last year only about 50% of my benefits were taxed. If my income increases from other sources, I think the taxable amount of social security goes up. Is that right?
is there an easy formula to figure that out? The IRS work sheet is confusing.
Thanks
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Oswego, NY, Auburn, KY
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