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chacam
12-18-2007, 12:51 PM
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

DickY
12-18-2007, 01:27 PM
Remember, your dealing with the Federal Government and the IRS, they don't know the word "easy". (I worked for the IRS in another lifetime). The SSA link on the FAQ for taxes is http://ssa-custhelp.ssa.gov/cgi-bin/ssa.cfg/php/enduser/std_adp.php?p_faqid=493&p_created=975936428&p_sid=Gc-M9wTi&p_accessibility=0&p_redirect=&p_lva=&p_sp=cF9zcmNoPTEmcF9zb3J0X2J5PSZwX2dyaWRzb3J0PSZwX 3Jvd19jbnQ9MjYsMjYmcF9wcm9kcz0mcF9jYXRzPSZwX3B2PSZ wX2N2PTEuNyZwX3BhZ2U9MQ**&p_li=&p_topview=1
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