Article: Taxability Of Social Security Benefits
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Taxability Of Social Security Benefits
The IRS determines whether your Social Security benefits are taxable by looking at your total income and marital status. Form SSA-1099, which Social Security recipients should receive by January 31, shows your total benefits, but determining your taxable benefits requires putting pencil to paper.
Generally, if Social Security benefits are your only income, your benefits are not taxable and you probably do not need to file a federal income tax return. If you received Social Security benefits plus other income, the answer to how much, if any, is taxable can be found in the worksheet in the Form 1040 or 1040A instruction book.
For a quick computation, add one-half of your Social Security benefits to all your other income, including tax-exempt interest. If this am...
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