Wednesday, January 6, 2010

If I work and collect social security,. How do I figure how much income tax I will have to pay on the social s

those instructions and the form needed are in your Form 1040 instructions.If I work and collect social security,. How do I figure how much income tax I will have to pay on the social s
It's a fairly messy calculation. There's a worksheet on page 25 of the 1040 instructions to calculate the percent of your social security that is taxable, if any. If any of it is, the tax will be figured on your 1040 or 1040A with the tax on your other income.If I work and collect social security,. How do I figure how much income tax I will have to pay on the social s
There's a worksheet you fill out. Or try doing efile onlie at irs.gov and they'll do it for you by collecting info from you from your forms.
If you are single and earn less than $25,000 or are married and earn less than $32,000 it is all excluded. If you earn more, work through the work sheet. Slowly. Twice. Use a pencil.

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