Social Security Q & A – Do I Pay Tax On My Benefits?

Question:

I’m gathering everything I’ll need to file my taxes this month. Do I have to pay taxes on Social Security benefits? Also, where can I get a replacement 1099?

Answer:

Some people who get Social Security must pay federal income taxes on their benefits. Still, no one pays taxes on more than 85 percent of their Social Security benefits.

You must pay taxes on some portion of your benefits if you file an individual federal tax return and your combined income exceeds $25,000. If you file a joint return, you must pay taxes if you and your spouse have combined income of more than $32,000. If you are married and file a separate return, you probably will have to pay taxes on your benefits. You can read more about tax preparation in relation to Social Security at www.socialsecurity.gov/planners/taxes.htm. Social Security benefits include monthly retirement, survivor, and disability benefits. They don’t include Supplemental Security Income (SSI) payments, which are not taxable.

You can also get a replacement 1099 or 1042S when you open your own personal my Social Security account at www.socialsecurity.gov/myaccount.