Try: Divide the social security benefits received by 2 add the wages amount reported on the w-2 form provided by the cr’s employer add other taxable income such as pensions interest dividends etc this amount is the cr’s total provisional income determine the cr’s filing status single head of household married filing separately married filing jointly or qualifying widow er locate the base amount and additional amount for the cr’s filing status if the cr’s total provisional income is below the base amount for the cr’s filing status then social security benefits are not taxed if the cr’s total provisional income falls between the base amount and additional amount then half of the cr’s social security benefits are taxed if the cr’s total provisional income is above the additional amount then 85 of the cr’s social security benefits are taxed use worksheet a in irs publication 915 as a quick and easy way to see if any part of the cr’s social security benefits may be taxable

Materials: Calculator note pad and pen internet access

Categories: Financial, Fully Aware, Somewhat Aware, Good S T Memory, So-So S T Memory

Information: n/a

References: A adapted from the internal revenue service www irs gov publication 915

Keywords: n/a

*This information is listed as a Tip and is not explicitly medically licensed