Social Security Benefits
Social Security income or equivalent railroad retirement benefit
amounts you received may or may not be taxable, depending on other
income you or your spouse received in the tax year.
When Benefits Are Taxable
If you received no other income during the year, it is likely
your benefits will not be taxable.
If you did receive other income, your benefits will be taxed if
one-half of your benefits plus all other income, including
tax-exempt interest, exceeds the base amount for your filing
status. The base amounts are:
- $25,000 if your filing status is single, head of household, or
qualifying widow(er)
- $25,000 if your filing status is married filing separately and
you lived apart from your spouse all of the tax year
- $32,000 if your filing status is married filing jointly
- $0 if your filing status is married filing separately and you
lived with your spouse at any time during the tax year
If your filing status is married filing jointly, you must
include benefits and income received by both you and your spouse
when determining whether the benefits are taxable.
If the benefits are deemed taxable they must be included in the
gross income of the person who has the legal right to receive the
benefits. If both you and your child receive benefits, and the
check for your child's portion is made out to you, you do not
include the benefits in your portion when determining if any amount
is taxable. The child's portion must be added to the child's other
income to determine if the benefits are taxable to your child.
How Much Is Taxable?
Generally up to 50% of benefits that are deemed taxable are
subject to tax. However, up to 85% of your benefits are taxable
if:
- The total of one-half of your benefits and all other income is
more than $34,000, or $44,000 if your filing status is married
filing jointly.
- Your filing status is married filing separately and you lived
with your spouse at any time during the tax year.
Social Security benefits are reported on Form SSA-1099.
Railroad retirement benefits are reported on Form RRB-1099.
For more information, see IRS
Publication 915.