Please answer the following questions regarding the taxability of Social Security: a. A 68-year-old taxpayer has $20,000
a. A 68-year-old taxpayer has $20,000 in Social Security income and $100,000 in tax-free municipal bond income. Does the municipal bond income affect the amount of Social Security the taxpayer must include in income?________________________________________________
b. A 68-year-old taxpayer has $20,000 in Social Security income and no other taxable or tax-free income. How much of the Social Security income must the taxpayer include in taxable income?_
c. A 68-year-old taxpayer has $20,000 in Social Security income and has significant other taxable retirement income. What is the maximum percentage of Social Security that the taxpayer might be required to include in taxable income?_______________________________________
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