IRS TAX TIP 2007-30
How much, if any, of your social security benefits are taxable depends
on your total income and marital status. Generally, if social security
benefits were your only income, your benefits are not taxable and you
probably do not need to file a federal income tax return
If you received income from other sources, your benefits will not be
taxed unless your modified adjusted gross income is more than the base
amount for your filing status. Your taxable benefits and modified
adjusted gross income are figured in a worksheet in the Form 1040A or
Form 1040 Instruction booklet.
Before you go to the instruction book, do the following quick
computation to determine whether some of your benefits may be taxable:
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First, add one–half of the total social security you received to all
your other income, including any tax exempt interest and other
exclusions from income;
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Then, compare this total to the base amount for your filing status.
The 2006 base amounts are:
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$32,000 for married couples filing jointly
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$25,000 for single, head of household, qualifying widow/widower with
a dependent child, or married individuals filing separately who did
not live with their spouses at any time during the year
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$0 for married persons filing separately who lived together during
the year
For additional information on the taxability of social security
benefits, see IRS Publication 915, Social Security and Equivalent
Railroad Retirement Benefits. Publication 915 is available on the IRS
Web site at IRS.gov or by calling 800-TAX-FORM (800-829-3676).
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