Sarah is single and retires in 2013.During 2013,Sarah's income consists of a $24,000 taxable pension and $10,000 in Social Security benefits.
Sarah is single and retires in 2013.During 2013,Sarah's income consists of a $24,000 taxable pension and $10,000 in Social Security benefits.
a.How much of the Social Security benefits must be included in Sarah's 2013 gross income?
b.If Sarah also receives $7,000 in tax-exempt interest in 2013,how much of the Social Security benefits must be included in her 2013 gross income?

Question

Sarah is single and retires in 2013.During 2013,Sarah's income consists of a $24,000 taxable pension and $10,000 in Social Security benefits.
 Sarah is single and retires in 2013.During 2013,Sarah's income consists of a $24,000 taxable pension and $10,000 in Social Security benefits.
a.How much of the Social Security benefits must be included in Sarah's 2013 gross income?
b.If Sarah also receives $7,000 in tax-exempt interest in 2013,how much of the Social Security benefits must be included in her 2013 gross income?

Quizplus · Accepted Answer

The Answer of Sarah is single and retires in 2013.During 2013,Sarah's income consists of a $24,000 taxable pension and $10,000 in Social Security benefits.
 Sarah is single and retires in 2013.During 2013,Sarah's income consists of a $24,000 taxable pension and $10,000 in Social Security benefits.
a.How much of the Social Security benefits must be included in Sarah's 2013 gross income?
b.If Sarah also receives $7,000 in tax-exempt interest in 2013,how much of the Social Security benefits must be included in her 2013 gross income?

Sarah Is Single and Retires in 2013