Question

Jack (69) and Kendra (67) are married and will file a joint return. During the year,...

Jack (69) and Kendra (67) are married and will file a joint return. During the year, Jack received $9,000 in social security benefits, and Kendra received $28,000 in benefits. In addition, the couple earned $2,000 in interest income, and Jack, a retired military officer, received pension benefits totaling $73,000. How much, if any, of the couple's social security benefits are taxable? 100%. 85%. 50%. None of their benefits are taxable.

Homework Answers

Answer #1

Assuming the Tax year to be 2019.

Jack and Kendra

MFJ - 2019

If any of the clients have only Social Security benefits without any other taxable income then there is no need for such clients to file a tax return.

In the above case, Jack and Kendra are retired couples with no other income except to Social Security benefit (Military pension is not taxable) and interest income is very less has the Standard deduction itself is $27,000.

So, none of the couples social security benefit is taxable for the tax year 2019.

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