Taxation of Benefits
This calculator is designed to calculate the portion of the Social Security payment that is subject to Federal income taxation.
Preliminary AGI (pensions, wages, dividends, etc)
Tax free bond interest
50% of Social Security (only include 1/2 of the benefit)
Taxable portion of Social Security
Percent of SS Taxed
1) If MAGI (modified adjusted gross income) is low enough, none of the Social Security payment will be taxed.
2) No more than 85% of the Social Security payment can be subject to taxation.