Question

social security benefits will. A. Be fully taxed since her her income is from other sources...

social security benefits will.

A.

Be fully taxed since her her income is from other sources is $45,000.

B.

She will get a deduction against his taxable income for the full $5,000.

C.

None of these answers.

D.

Come to her tax-free since he paid tax on the amounts when they were included in his gross wages.

E.

Be partially taxed because of her high income bracket.

Homework Answers

Answer #1

Social security benefits will :

A is the right answer, because as per the law prevailing in the country if your income from all sources is above $44000 for a married house hold then 100% of your social security income will be taxed. In case of a single household if your income is above $34000, then same as in the case of married household case mentioned here, that is 100% of the social securtity income will be taxable.

The summary of the gross adjusted income levels and how they correspond to the amount of Social Security income that will be taxed, is attached

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