In the case of a person with other income of $300,000, 15% of his or her Social Security benefits received are excluded from gross income.

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This statement is true according to the IRS. A portion of Social Security benefits may be excluded from gross income for taxpayers with other income above certain thresholds. As of 2021, the threshold for single filers is $25,000 and the threshold for married joint filers is $32,000. The excluded amount is gradually reduced as income increases, but it will never fall below zero. The maximum percentage that can be excluded is 85%. However, for taxpayers with other income exceeding $34,000 for singles and $44,000 for married joint filers, up to 85% of Social Security benefits may be subject to taxation at their marginal tax rate.

In the Case of a Person with Other Income of $300,000