Is Social Security taxable? Learn if you have to pay anything

For many Americans, Social Security is a key source of income during retirement, but it's important to know that these benefits may be taxable depending on your income and filing status. Having a clear understanding of how these taxes work can help you avoid surprises and manage your financial planning.

Social Security benefits are taxed based on your "combined income," which is calculated by adding your adjusted gross income (AGI), any nontaxable interest, and half of your Social Security benefits. This total is then compared to specific income thresholds that determine if-and how much-of your Social Security benefits are taxable.

For individuals filing as single, head of household, or qualifying widow(er), if your combined income falls between $25,000 and $34,000, you may owe taxes on up to 50 percent of your benefits.

When combined income exceeds $34,000, up to 85 percent of your benefits may be taxable. For married couples filing tly, taxes apply if their combined income is between $32,000 and $44,000, with up to 50 percent of benefits potentially taxed.

For incomes above $44,000, up to 85 percent of benefits may be taxable. Married individuals filing separately who lived with their spouse at any point during the year may see up to 85 percent of their benefits taxed, regardless of income.

Do states tax Social Security benefits?

Some states also tax Social Security benefits in addition to federal taxes. As of 2024, nine states-Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont, and West Virginia-tax Social Security benefits. West Virginia, however, is on track to phase out this tax by 2026.

If you anticipate having to pay taxes on your Social Security, you can choose to have federal taxes withheld from your benefits. To do this, submit Form W-4V to the Social Security istration. For a clearer picture of how much of your benefits may be taxed, consult IRS Publication 915 or work with a tax professional.