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-   -   Income Taxes on Social Secuity Benefits (https://www.talkofthevillages.com/forums/villages-florida-non-villages-discussion-93/income-taxes-social-secuity-benefits-10922/)

chacam 12-18-2007 12:51 PM

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

DickY 12-18-2007 01:27 PM

Re: Income Taxes on Social Secuity Benefits
 
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/...i=&p_topview=1
>:(


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