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.
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ITEMS
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AMOUNTS
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1. Enter the total amount of SS benefits
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$
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2. Enter one half of line 1
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3. Enter the total of taxable income items except SS
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4. Enter the tax exempt interest income
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5. Add lines 2,3, and 4
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6. Enter all adjustments of AGI
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7. Subtract line 6 from line 5
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8. Enter $25,000 ($ 32,000 if married filing joint)
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9. Subtract line 8 from line 7
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10. Enter $9,000 ( $12,000 if married filing joint)
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11. Subtract line 10 from line 9
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12. Enter the Smaller of line 9 or line 10
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13. Enter one half of line 12
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14. Enter the Smaller of line 2 or line 13
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15. Multiply line 11 by 85 %
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16. Ad lines 14 and 15
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17. Multiply line 1 by 85 %
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18. Taxable Benefits. Enter the smaller of line 16 or line 17
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$
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