Social Security Taxable Flashcards
1
Q
Which Income is exempt
A
- One-half of your benefits; plus
- All your other income, including tax-exempt interest.
Exclusions. When making this comparison, don’t reduce
your other income by any exclusions for:
* Interest from qualified U.S. savings bonds,
* Employer-provided adoption benefits,
* Interest on education loans,
* Foreign earned income or foreign housing, or
* Income earned by bona fide residents of American
Samoa or Puerto Rico.
2
Q
Interest from qualfied US Saving bond
A
Exclude
2
Q
Employer-provided adoption benefits
A
Exclude
3
Q
Interest on education loans
A
Exclude
4
Q
Foreign earned income or foreign housing
A
Exclude
5
Q
Income earned by bona fide residents of American
A
Exclude
6
Q
Interst Income
A
7
Q
Interest on Muni Bond
A
8
Q
Dividends
A
9
Q
A