Is social security taxable?

ANSWER

The BIDaWIZ Team's Answer:

A portion of it may be taxable [see IRC 86]. The includible amount is the lesser

of one-half of the annual benefits received, or one-half of the excess of the taxpayer's

provisional income over a specified base amount; limited to 85% of the benefits received.

So, for lower income taxpayers, the taxable amount is as low as $0, and for higher income

taxpayers, the taxable amount is as high as 85% of the social security benefits received.