Question re Social Security and Taxes - Page 2

Icegoddess · ‎03-19-2010

@Still Raining wrote:
Should be a 1099 I think. And yes they know where you live 😵‍💫

As opposed to those people calling claiming to be from the IRS who have been trying to get in touch with you, LOL. Hey, I've lived in the same place for over 20 years. I'm not hard to find.

teganslaw · ‎03-11-2010

I have never received mine until the 2nd or 3rd week in January. if some received theirs already, it would mean that W2 was sent out before the end of 2023. I don't understand why SS would send out forms before the end of year. Is this something new?

"The more I learn about people, the more I like my dog."

Mark Twain

bells4me · ‎03-13-2010

Yes you will. You claim SS but not taxed since you have already paid taxes when employed on it.

NicksmomESQ · ‎08-19-2014

@bells4me wrote:
Yes you will. You claim SS but not taxed since you have already paid taxes when employed on it.

Unless you make below a certain amount of money, up to 85% of your Social Security is subject to Federal Income Tax.

Since we've been collecting SS, DH & I have always paid income tax on it.

JudyL · ‎07-11-2010

I knew that I had to pay Federal taxes on my SS so have been having an amount deducted each month. Had to estimate on that percentage amount when I signed up so hoping I did ok with that If not, I will have to adjust.

Will wait for the form from SS. I did work for 1 month of 2023 before retiring so need to wait for that W-2 also.

Thank you all for your responses.

CelticCrafter · ‎03-09-2010

@bells4me wrote:
Yes you will. You claim SS but not taxed since you have already paid taxes when employed on it.

That's absolutely false...

catter70 · ‎10-11-2017

I've not yet received my 1099, either. Hoping USPS hasn't lost that like some of my other mail. I also have fed. taxes taken out monthly..

kze · ‎03-09-2010

I never receive my 1099 until the end of January.

Othereeeen · ‎03-13-2010

@bells4me

From Page 9 of Form "Form 1040 Instructions" ( which YOU can Google!!!)

**Gross income means all income you received in the form of money, goods, property, and services that isn't exempt from
tax, including any income from sources outside the United States or from the sale of your main home (even if you can
exclude part or all of it).

Don’t include any social security benefits unless:

(a) you are married filing a separate return and
you lived with your spouse at any time in 2023, or

(b) one-half of your social security benefits plus your other gross
income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly).

If (a) or (b) applies, see the
instructions for lines 6a and 6b to figure the taxable part of social security benefits you must include in gross income"

Hope this helps!

Google "Form 1040 2023 Instructions" then see PAGE 9).

Depending on your other sources of taxable income, up to 85% of your SS may be subject to income tax.

jannabelle1 · ‎09-12-2010

I'm in the same boat so to speak. I have way too much taken out of my social security in federal taxes. I need to change it, but the only way to do that is to visit the local social security office. For some reason, that can't be done online, unfortunately. I've said for the last 5 years that I need to go to the social secuity office to change it and still haven't done it!