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    tableclocks's Avatar
    tableclocks Posts: 432, Reputation: 2
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    #1

    Dec 11, 2010, 03:46 PM
    Ss tax pay back 1/2
    Hi... I an getting reg SS... 1,700 a month.. I am still working... I am 63... I made about 30,000 this year so I do know that I have to pay back 1/2 of about ,16,000 which is about 8,000... because I went over my limit of 14,160... question... when I do my taxs and pay tax on the full SS of 20,400... is the IRS concerened about the pay back that I have to do with SS... because I made 30,000..?. hope you understand the Q... than you so much if you can help... richard
    Or do I just do the pay back of about 8,000 th SS nx year?
    They may just hold back the 8,000 from my payments... which is OK...
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Dec 13, 2010, 06:48 AM

    A part of your social security benefits may be taxable if half of the SS benefits plus your other income exceeds the base amount. The base amount is $25,000 for single, head of household, married filing separately who did not live with the spouse in the year, and it is $32,000 for married filing jointly. For married filing separately who lived with the spouse any time in the year, the base amount is $0.
    tableclocks's Avatar
    tableclocks Posts: 432, Reputation: 2
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    #3

    Dec 13, 2010, 07:34 AM
    Quote Originally Posted by tableclocks View Post
    hi...i an getting reg SS...1,700 a month..i am still working...i am 63...i made about 30,000 this year so i do know that i have to pay back 1/2 of about ,16,000 which is about 8,000....because i went over my limit of 14,160....question....when i do my taxs and pay tax on the full SS of 20,400...is the IRS concerened about the pay back that i have to do with SS....because i made 30,000...??..hope you understand the Q.....than you so much if you can help....richard
    or do i just do the pay back of about 8,000 th SS nx year?
    they may just hold back the 8,000 from my payments ...which is ok....
    Does the IRS care if I make over the 14,160 linit because I get over 20,000 in SS... or do I just pay back the excess to the SS which is about 8,000 because I made about 30,000 which is about 16,000 over my linit... do I have any concerns with the IRS? Or just pay on the part nessary of the 30,000
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Dec 13, 2010, 11:07 AM
    I believe that the Social Security Administration (SSA) will cut back on your 2011 monthly payments based on the information provided by your 2010 tax return.

    A call to the SSA will confirm or deny this.
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