If you are receiving Social Security benefits you may have to pay income taxes on a portion of those benefits. Social Security benefits include monthly retirement, survivor and disability benefits. They do not include supplemental security income payments, which aren’t taxable.
The portion of benefits that are taxable will depend on your income and filing status.
To find out if your benefits are taxable, you should:
Take one half of the Social Security money you collected during the year and add it to your other income. Other income includes pensions, wages, interest, dividends and capital gains.
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- If you are single and that total comes to more than $25,000, then part of your Social Security benefits may be taxable.
- If you are married filing jointly, you should take half of your Social Security, plus half of your spouse’s Social Security, and add that to all your combined income. If that total is more than $32,000, then part of your Social Security may be taxable.
Fifty percent (50%) of your benefits may be taxable if your are:
- Filing single, single, head of household or qualifying widow or widower with $25,000 to $34,000 income.
- Married filing separately and lived apart from their spouse for all of 2019 with $25,000 to $34,000 income.
- Married filing jointly with $32,000 to $44,000 income.
Up to 85% of your benefits may be taxable if you are:
- Filing single, head of household or qualifying widow or widower with more than $34,000 income.
- Married filing jointly with more than $44,000 income.
- Married filing separately and lived apart from their spouse for all of 2019 with more than $34,000 income.
- Married filing separately and lived with their spouse at any time during 2019.
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