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Taxation Of Benefits

Is My Income Counted When Determining Whether My Wife's Social Security Is Taxable?

I receive a government pension (worked for USPS for 37 years) I receive $76K from the USPS pension and another 19K form Thrift Savings plan. My wife start collecting Social Security this August. My question - Is my government pension and Thrift Savings accounts considered taxable income for my wife's Social Security? According to SS "If you are married and you and your spouse have a total income of more than $32,000," you may have to pay taxes on the benefits you get from SS.

Posted: 
Thursday, May 24, 2018 - 11:19

Will I Have To Pay Full Taxes On The Socical Security Back Pay I Received?

A few month ago I wrote to you about $25,000 that SSA put in my checking account. My wife turned 62 a year and half before me, she took her SS, a year an half later I took my SS; seems like her SS payments should have gone up do to my higher earnings. SSA also put $4,718.00 in my grown sons account?..Question will I have to full taxes on the 25 K or shouldn't I only have to pay the 20% or whatever it is? All This came about due to my passing away after being married to my for 55yrs. I called SSA to stop SS check and then this happened.

Hi,

Posted: 
Tuesday, May 8, 2018 - 15:12

Does My Income Affect How Much Tax We Have To Pay On My Wife's Social Security Benefits?

My wife started collecting ssi last year at 62 and I continued to work all year over 50,000. We filed jointly. Does my income affect how much tax we have to pay when filing? I read that we must claim her 6250 ssi and pay 85% or 1176 dollars back to the government. Is this correct? The IRS 1040a states we must claim her ssi and pay on it. Please reply. Thanks, George

Hi George,

Posted: 
Saturday, March 10, 2018 - 09:49

How Can I Minimize The Amount Of Taxes I Have To Pay Back?

I am 66 years of age ( I am still working), my Husband died in 12/2016 I receive his benefits. I plan to retire in 6/2018 my son is doing my taxes and said I will have to pay taxes. Is it because I worked and received his benefits? How can I minimize the amount of taxes I have to pay back.
Thank You

Hi,

I'm sorry for your loss.

Posted: 
Tuesday, March 6, 2018 - 11:18

Are Child In Care Benefits Taxable?

My husband just filed at 67. We have 2 underage children who are eligible for benefits on his record and I am not yet retirement age and am eligible for the child in care benefits. I'm not sure if I should take the child in care or just let the amount go to the children up to the family maximum, and also wonder if me or my children should take the 6 month retroactive benefits.

Posted: 
Monday, January 15, 2018 - 12:28

Do Medicare Deductions Reduce The Taxable Amount Of My Income?

when the ins co deduct $134/mo from my social security check does this reduce the taxable amount of my income

Hi,

I assume that the $134 monthly deduction to which you are referring is your Part B Medicare premium. Those premiums do not reduce the amount of your Social Security income that could potentially be taxable. For more information on taxation of Social Security benefits, refer to the Social Security website: https://www.ssa.gov/planners/taxes.html.

Best, Jerry

Posted: 
Sunday, December 3, 2017 - 06:29
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