Do I Have To Report Social Security That My Husband Draws?
2007-01-13 14:15:39 · 4 answers · asked by nana b 1 in Business & Finance ➔ Taxes ➔ United States
It depends on how much he gets and if you file together. Read the information on the back of the income statement they send you.
2007-01-13 14:26:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The social security benefits received for 2006 must be shown on the return whether or not taxable. You take one-half of the ss benefits and add all other combined income , if that number is less than 32K none of the benefits will be taxable. If it exceeds the 32k, a portion will be taxable, however the maximum is 85% of said benefits.
2007-01-13 14:40:17 · answer #2 · answered by lotsof? 1 · 0⤊ 0⤋
Yup!
But the good news is, it's not 100% taxable!
Depending on your other income, it could be 0% taxable, 50% taxable or 85% taxable (or somewhere in the middle).
You have to do the worksheet in order to determine the taxable amount.
WealthBuilder
Tax Specialist
2007-01-13 15:08:38 · answer #3 · answered by WealthBuilder 4 · 1⤊ 1⤋
Maybe.
It depends on how much you make.
2007-01-13 14:28:32 · answer #4 · answered by Wayne Z 7 · 1⤊ 0⤋