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Tax Strategies

How Social Security benefits are taxed

By Barry Lisak
Posted 3/18/22

The Social Security benefits you received in 2021 may be taxable. Each January, you should receive a Form SSA-1099 (Social Security Benefit Statement) which will show the total amount of your benefits. The information provided on this statement along with the following facts from the IRS will help you determine whether your benefits are taxable.

1. How much, if any, of your Social Security benefits are taxable depends on your marital status and gross income.

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