![]() ![]() If your Social Security income is taxable, the amount you pay will depend on your total combined retirement income. How to Calculate Your Social Security Income Taxes However, if you’re married and file separately, you’ll likely have to pay taxes on your Social Security income. The 2023 limit for joint filers is $32,000. The limit for 2023 is $25,000 if you are a single filer, head of household or qualifying widow or widower with a dependent child. If your combined income is above a certain limit (the IRS calls this limit the base amount), you will need to pay at least some tax. This number is known as your combined income, and this is how it’s calculated:Ĭombined Income = Adjusted Gross Income (AGI) + Nontaxable Interest + 1/2 of Social Security benefits ![]() According to the IRS, the best way to see if you’ll owe taxes on your Social Security income is to take one half of your Social Security benefits and add that amount to all your other income. ![]()
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