Which of the following statements about the taxation of Social Security retirement benefits is (are)true?
I.Social Security retirement benefits are never considered taxable income.
II.Up to 85 percent of Social Security retirement benefits may be considered taxable income,depending on the amount of other income received by the beneficiary.

Question

Quizplus · Accepted Answer

Only statement II is true. The amount of Social Security retirement benefits that is considered taxable depends on the total amount of other income received by the beneficiary. Up to 85 percent of Social Security retirement benefits could be taxable if the beneficiary's total income exceeds certain thresholds. However, statement I is false, as Social Security retirement benefits can be considered taxable income in certain circumstances.

Which of the Following Statements About the Taxation of Social