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Author: jmullner Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 72248  
Subject: Taxation of soc. sec. benefits???? Date: 8/26/2000 10:31 AM
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In trying to plan for retirement, I have read the Motley fools steps. I'm not sure how to take into account social security benefits. I expect to have a portfolio which will generate income and I believe social security will provide approximately $10K/yr. Assuming things remain the same as they are now (with regards to taxes and so forth) how much tax will I have to pay on the $10K?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24363 of 72248
Subject: Re: Taxation of soc. sec. benefits???? Date: 8/26/2000 10:42 AM
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Greetings, Jmullner, and welcome. You asked:

<<I expect to have a portfolio which will generate income and I believe social security will provide approximately $10K/yr. Assuming things remain the same as they are now (with regards to taxes and so forth) how much tax will I have to pay on the $10K? >>

Perhaps nothing, perhaps something. How much taxable income will the portfolio generate? If that plus one-half of your Social Security and all of your municipal bond income puts you over the threshhold for your filing status, then part of the $10K from Social Security will be taxed. For an example of how it all works, see my article at http://www.fool.com/retirement/retireeport/2000/retireeport000118.htm.

Regards..Pixy

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