During the 2013 tax year, Brian, a single taxpayer, received $6,000 in Social Security benefits. His adjusted
Question:
Simplified Taxable Social Security Worksheet (for most people)
1. Enter the total amount of Social Security income. 1. ________
2. Enter one-half of line 1. 2. ________
3. Enter the total of taxable income items on Form 1040 except Social Security income. 3. ________
4. Enter the amount of tax-exempt interest income. 4. ________
5. Add lines 2, 3, and 4. 5. ________
6. Enter all adjustments for AGI except for student loan interest, the domestic production activities deduction, and the tuition and fees deduction. 6. ________
7. Subtract line 6 from line 5. If zero or less, stop here, none of the Social Security benefits are taxable. 7. ________
8. Enter $25,000 ($32,000 if married filing jointly; $0 if married filing separately and living with spouse at any time during the year). 8. ________
9. Subtract line 8 from line 7. If zero or less, enter -0-.Note: If line 9 is zero or less, stop here; none of your benefits are taxable. Otherwise, go on to line 10. 9. ________
10. Enter $9,000 ($12,000 if married filing jointly; $0 if married filing separately and living with spouse at any time during the year). 10. ________
11. Subtract line 10 from line 9. If zero or less, enter -0-. 11. ________
12. Enter the smaller of line 9 or line 10. 12. ________
13. Enter one-half of line 12. 13. ________
14. Enter the smaller of line 2 or line 13. 14. ________
15. Multiply line 11 by 85% (.85). If line 11 is zero, enter -0-. 15. ________
16. Add lines 14 and 15. 16. ________
17. Multiply line 1 by 85% (.85). 17. ________
18. Taxable benefits. Enter the smaller of line 16 or line 17. 18. ________
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Related Book For
Income Tax Fundamentals 2014
ISBN: 9781285424545
32nd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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