I am 65 and just started drawing social security. My son is 16 and lives at home and is still in high school. He will receive $800 per month from social security. Will he be taxed?

ANSWER

The BIDaWIZ Team's Answer:

The social security income that your son receives will not be taxable since it is below the $25,000 base amount per IRS publication 915. We're assuming that the social security benefits are his only income. In calculating whether not he will owe taxes, you need to add 1/2 of his social security benefits to any other income he earns. Based on the facts and circumstances, you've provided, your son will not owe taxes on these benefits.