What amount must include of his ss benefits

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Reference no: EM13862965

James Pabon, a single taxpayer, is retired and receives SOCIAL SECURITY BENFITS of $ 16,000 in the year, He had AGI of $ 47,000 ( not included SS) .

What amount must include of his SS benefits in the Form 1040 in income.

ITEMS

AMOUNTS

1.      Enter the total amount of SS benefits

$

2.      Enter one half of line 1

 

3.      Enter the total of taxable income items except SS

 

4.      Enter the tax exempt interest income

 

5.      Add lines 2,3, and 4

 

6.      Enter all adjustments of AGI

 

7.      Subtract line 6 from line 5

 

8.      Enter $25,000  ($ 32,000 if married filing joint)

 

9.      Subtract line 8 from line 7

 

10.  Enter $9,000 ( $12,000 if married filing joint)

 

11.  Subtract line 10 from line 9

 

12.  Enter the Smaller of line 9 or  line 10

 

13.  Enter one half of line 12

 

14.  Enter the Smaller of line 2 or line 13

 

15.  Multiply line 11 by 85 %

 

16.  Ad lines 14 and 15

 

17.  Multiply line 1 by 85 %

 

18.  Taxable Benefits. Enter the smaller of line 16 or line 17

$

 

 

Reference no: EM13862965

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