https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672651#M579647 <P>I usually do my own taxes but last June I decided to take my SS. I've googled this and found many different views. Some say you should be taxed on half and others say maybe you should be taxed. It's a bit confusing. Should I use a professional? I would appreciate any responses. Thank You.</P> Sat, 07 Feb 2015 23:42:09 GMT DJP 2015-02-07T23:42:09Z https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672651#M579647 <P>I usually do my own taxes but last June I decided to take my SS. I've googled this and found many different views. Some say you should be taxed on half and others say maybe you should be taxed. It's a bit confusing. Should I use a professional? I would appreciate any responses. Thank You.</P> Sat, 07 Feb 2015 23:42:09 GMT https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672651#M579647 DJP 2015-02-07T23:42:09Z https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672656#M579649 <P>What percentage of your SS will be taxed depends upon your other income. Whatever guideline you're using to figure your taxes should be able to show you your percentage.</P> Sat, 07 Feb 2015 23:46:57 GMT https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672656#M579649 millieshops 2015-02-07T23:46:57Z https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672661#M579651 <P>IRS.gov website has links for all the tax forms, worksheets and instructions in pdf format. Also, your statement from SS has a worksheet to help determine if any of your benefits are taxable.</P> Sat, 07 Feb 2015 23:56:02 GMT https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672661#M579651 Marp2 2015-02-07T23:56:02Z https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672666#M579653 <P>You can find a Social Security Taxable Benefits worksheet on IRS.gov in the instructions for the 1040 form. You will have to know what your income is from all other sources, as it asks for that information on the form and uses it in the calculation. If you follow the instructions line by line and have all your information, including your SS Tax form, you can figure what portion, if any, will be taxable. </P> <P>You didn't mention if you're still working while taking your benefits, that will affect the taxable portion as well if you are. That part is explained on the Social Security website. </P> <P>It's not difficult at all if you have all your information together. </P> <P> </P> Sat, 07 Feb 2015 23:56:20 GMT https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672666#M579653 kittymomNC 2015-02-07T23:56:20Z https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672671#M579655 <P>Agree with all the above. I've helped my mother with this computation. The worksheet in the 1040 instructions is easy to follow. </P> <P>No need to pay a professional to figure it out.</P> <P>The max taxable SS amount is 85%.</P> Sun, 08 Feb 2015 00:00:43 GMT https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672671#M579655 Lion 2015-02-08T00:00:43Z https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672676#M579657 <P>Thank you all for your responses. I will look into IRS.gov. I am still working but just 25 hours a week. My job doesn't give me much income. </P> <P>I really appreciate taking the time to respond !</P> Sun, 08 Feb 2015 00:07:03 GMT https://community.qvc.com/t5/Community-Chat/Social-Security-Benefits/m-p/1672676#M579657 DJP 2015-02-08T00:07:03Z