Ms.Walter,age 70,is thinking about going back to work part-time.She knows that the wages may affect the taxability of her Social Security benefits.What is the maximum percentage of Social Security benefits that could become taxable?
A)0%
B)50%
C)85%
D)100%

Question

Quizplus · Accepted Answer

If Ms. Walter's combined income (income from all sources including part-time wages and 50% of her Social Security benefits) is between $25,000 and $34,000 for a single filer or between $32,000 and $44,000 for a joint filer, up to 50% of her Social Security benefits may be taxable. If her combined income is above $34,000 for a single filer or $44,000 for a joint filer, up to 85% of her Social Security benefits may be taxable. Therefore, the maximum percentage of Social Security benefits that could become taxable is 85%.

MsWalter,age 70,is Thinking About Going Back to Work Part-Time