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Can social security benefits be used as income if someone is full retirement age and still working full time?
My husband reached full retirement age in March of 2011 and began to draw benefits after that. He still continued to work full time. I also worked full time all of 2011. The tax program I used took about $3000 more away from our tax refund after the SS was added into income and now we owe around a thousand dollars. Is this right? Can social security benefits be taxed after reaching full retirement age if you continue to work?
3 Answers
- JudyLv 79 years agoFavorite Answer
U[ tp 85% of your ss can be taxed, depending on how much other income you have that year. It doesn't matter how old you are.
- ?Lv 79 years ago
Yes, you pay Medicare, Social Security and income tax when you work no matter what age you are and whether or not you are collecting retirement benefits.
- troLv 79 years ago
when you work and receive SS there is a two step process(worksheet) to determine how much of the SS is taxable
if you used a program you can find the worksheet and see how it is calculated
and yes, it is very possible that some SS is taxable
