Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Greetings, Chuckr, and welcome. You asked:

<<I just read Pixies article 3/21 re this subject. If spouse (wife)makes $17,000 (over 65) and files jointly with husband with resultant total income substantially over the $45,944 amount is her SS benefit reduced accordingly?>>

The SS benefit will not be reduced (i.e., forfeited) because of the earnings limitation in that she didn't make enough to cause a forfeiture. You're really talking about the potential taxation of SS, which is an entirely separate and distinct issue. That starts with the adjusted gross income on your joint income tax return before any consideration of SS benefits. To that AGI you add unearned income (for most folks that's only the interest/dividends on municipal bonds or municipal bond funds) and one-half of all SS beneifts received in the year. From that sum you subtract $32K. If there is an excess, then up to 85% of the SS benefit can be taxed depending on the size of that excess. In your example, part of the SS benefit will be taxed.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.