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Donald
Lv 4
Donald asked in Business & FinanceTaxesUnited States · 3 years ago

How much will Social Security Income taxable under the proposed (Trump) tax reform?

I’m aware of how this is calculated under present tax structure, but after many hours of research I can find nothing about how it will be handled under the new tax reform. Wondering if someone has information on this that I have missed, even though I have searched ever location I can think of (google, IRS site, SS site, aarp site, and many political/financial sites.

Like will none of it be taxed? (As in beginning)

Will some amount be taxed? (As now from SS tax work sheet)

Or will all of it be taxed at new proposed tax percentages? (Which has never been done)

26 Answers

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  • curtisports2
    Lv 7
    3 years ago
    Favorite Answer

    Currently, up to 85% of Social Security retirement is taxable. It's income-dependent, and if SS is your only source of income, it's not taxed at all.

    I have seen nothing about how the proposed tax reform affects this. Meaning, probably, that no change was put forward relating to SS.

  • nostros
    3 years ago

    No change

  • CherryBlossoms2
    3 years ago

    Great BA, hopefully Trump won't make the tax plan even worse. He could always change things even more...

  • Anonymous
    3 years ago

    so much

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  • ?
    3 years ago

    Ask your Mom.

  • Nasi
    3 years ago

    Security Retirement is Taxable

    Source(s): https://www.bestchange.com/?p=379021
  • vic
    3 years ago

    I don't think it should be taxed at all, we paid income tax on it already and then we pay again when we get our money back

  • Arthur
    3 years ago

    I think all of it. Who knows?

  • ?
    Lv 7
    3 years ago

    more than likely the taxation of SS will not be changed, it has been partly taxable for decades, a two step process to determine how much when you have other income

  • RUSerious
    Lv 7
    3 years ago

    Only time will tell. We will need to wait and see what is included in the new tax laws, which to the best of my knowledge and belief, have not been finalized as of yet.

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