New Rockford Transcript - Official Newspaper of Eddy County since 1883

Savvy Senior: Is Social Security Income Taxable?

 

January 4, 2021



Dear Savvy Senior,

I understand that a portion of my Social Security benefits may be taxable when I retire. Can you tell me how to calculate this?

Ready to Retire

Rear Ready,

Whether or not you’ll be required to pay federal income tax on your Social Security benefits will depend on your income and filing status. About 35% of Social Security recipients have total incomes high enough to trigger...



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