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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
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