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and your combined income for the year.
Charles Schwab condensed some of the pertinent information related to adjusted gross income calculations thusly.
Take a look below.
Also, find out the common mistakes retirees make with their Social Security checks.
How Does It Work?
The SSA provided the following thresholds, below which income will be exempt from federal taxation.
For those exceeding these thresholds, taxation values vary.
Those in this category earning more than $44,000 could see up to 85% of benefits considered taxable.
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