Where to find social security deductions

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Pacific
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Where to find social security deductions

Post by Pacific » Thu Nov 07, 2019 5:16 pm

I am trying to keep under a certain IRMAA tier with my 2019 income. In this regard, I am pretty sure that I have to use my gross social security retirement benefits as my income rather than my net benefits. On the my Social Security website it lists my gross, but I am unable to find what the various deductions are that result in my net. Also, the message center at that site only appears to allow messages coming from them, not to them.

Where can I find this info?

Thanks.

Lalamimi
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Re: Where to find social security deductions

Post by Lalamimi » Thu Nov 07, 2019 5:54 pm

"Social Security income includes retirement, survivor benefits, and disability payments. For the most part, only taxable sources of income count in determining household MAGI-based income. However, all Social Security income of tax filers is counted, regardless of whether it is taxable or not. "
https://ccf.georgetown.edu/2015/02/04/g ... come-count

delamer
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Re: Where to find social security deductions

Post by delamer » Thu Nov 07, 2019 6:18 pm

Lalamimi wrote:
Thu Nov 07, 2019 5:54 pm
"Social Security income includes retirement, survivor benefits, and disability payments. For the most part, only taxable sources of income count in determining household MAGI-based income. However, all Social Security income of tax filers is counted, regardless of whether it is taxable or not. "
https://ccf.georgetown.edu/2015/02/04/g ... come-count
So therefore, you don’t need to know the source of the deductions from your gross.

Is this your first year in Social Security?

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cheese_breath
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Re: Where to find social security deductions

Post by cheese_breath » Thu Nov 07, 2019 6:26 pm

Here's a thread I started last month I think you'll find helpful.

viewtopic.php?t=292267
The surest way to know the future is when it becomes the past.

Topic Author
Pacific
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Re: Where to find social security deductions

Post by Pacific » Fri Nov 08, 2019 12:35 am

delamer wrote:
Thu Nov 07, 2019 6:18 pm
Lalamimi wrote:
Thu Nov 07, 2019 5:54 pm
"Social Security income includes retirement, survivor benefits, and disability payments. For the most part, only taxable sources of income count in determining household MAGI-based income. However, all Social Security income of tax filers is counted, regardless of whether it is taxable or not. "
https://ccf.georgetown.edu/2015/02/04/g ... come-count
So therefore, you don’t need to know the source of the deductions from your gross.

Is this your first year in Social Security?
I guess my question SHOULD have been "where do I find out how much in taxes have I had ss deduct from my gross?"

Topic Author
Pacific
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Re: Where to find social security deductions

Post by Pacific » Fri Nov 08, 2019 12:37 am

cheese_breath wrote:
Thu Nov 07, 2019 6:26 pm
Here's a thread I started last month I think you'll find helpful.

viewtopic.php?t=292267
I had already read that at the time. Now I need to figure out (or FIND on a website) how much I have had them deduct each month in taxes.

billfromct
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Re: Where to find social security deductions

Post by billfromct » Fri Nov 08, 2019 4:08 am

My understanding is that 85% of your gross SS benefit (total income over $34k for an individual or $44k for a married couple) is included in your modified adjusted gross income (MAGI) amount to determine your IRMAA.

I believe no SS income or 50% of SS is taxable for very low income Federal tax filers. Someone in these income brackets would not need to worry about IRMAA anyway.

The amount of SS that is with held from your monthly SS deposit to pay for Medicare Part B or D has no impact in calculating your MAGI for IRMAA calculations.

Google "how are Social Security benefits taxed".

bill

Topic Author
Pacific
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Re: Where to find social security deductions

Post by Pacific » Fri Nov 08, 2019 5:52 am

delamer wrote:
Thu Nov 07, 2019 6:18 pm
Lalamimi wrote:
Thu Nov 07, 2019 5:54 pm
"Social Security income includes retirement, survivor benefits, and disability payments. For the most part, only taxable sources of income count in determining household MAGI-based income. However, all Social Security income of tax filers is counted, regardless of whether it is taxable or not. "
https://ccf.georgetown.edu/2015/02/04/g ... come-count
So therefore, you don’t need to know the source of the deductions from your gross.

Is this your first year in Social Security?
I rethought this and now I understand what you are saying. It doesn't matter what the deductions are -- even if there are taxes deducted. The gross retirement is income (or at least the taxable portion of it). Thanks!

Topic Author
Pacific
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Location: Lost in the middle of the Pacific

Re: Where to find social security deductions

Post by Pacific » Fri Nov 08, 2019 5:55 am

billfromct wrote:
Fri Nov 08, 2019 4:08 am
My understanding is that 85% of your gross SS benefit (total income over $34k for an individual or $44k for a married couple) is included in your modified adjusted gross income (MAGI) amount to determine your IRMAA.

I believe no SS income or 50% of SS is taxable for very low income Federal tax filers. Someone in these income brackets would not need to worry about IRMAA anyway.

The amount of SS that is with held from your monthly SS deposit to pay for Medicare Part B or D has no impact in calculating your MAGI for IRMAA calculations.

Google "how are Social Security benefits taxed".

bill
Understood! Thanks.

sixty40
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Re: Where to find social security deductions

Post by sixty40 » Fri Nov 08, 2019 8:29 am

Pacific wrote:
Fri Nov 08, 2019 12:35 am
delamer wrote:
Thu Nov 07, 2019 6:18 pm
Lalamimi wrote:
Thu Nov 07, 2019 5:54 pm
"Social Security income includes retirement, survivor benefits, and disability payments. For the most part, only taxable sources of income count in determining household MAGI-based income. However, all Social Security income of tax filers is counted, regardless of whether it is taxable or not. "
https://ccf.georgetown.edu/2015/02/04/g ... come-count
So therefore, you don’t need to know the source of the deductions from your gross.

Is this your first year in Social Security?
I guess my question SHOULD have been "where do I find out how much in taxes have I had ss deduct from my gross?"
You can find that out in your statement at the ss website, they don’t sent out paper statements anymore. The statement shows your history by year from your first job to your most completed year. All wages are taxed at 6.2% of gross, to a maximum determined every year.

delamer
Posts: 9057
Joined: Tue Feb 08, 2011 6:13 pm

Re: Where to find social security deductions

Post by delamer » Fri Nov 08, 2019 10:49 am

sixty40 wrote:
Fri Nov 08, 2019 8:29 am
Pacific wrote:
Fri Nov 08, 2019 12:35 am
delamer wrote:
Thu Nov 07, 2019 6:18 pm
Lalamimi wrote:
Thu Nov 07, 2019 5:54 pm
"Social Security income includes retirement, survivor benefits, and disability payments. For the most part, only taxable sources of income count in determining household MAGI-based income. However, all Social Security income of tax filers is counted, regardless of whether it is taxable or not. "
https://ccf.georgetown.edu/2015/02/04/g ... come-count
So therefore, you don’t need to know the source of the deductions from your gross.

Is this your first year in Social Security?
I guess my question SHOULD have been "where do I find out how much in taxes have I had ss deduct from my gross?"
You can find that out in your statement at the ss website, they don’t sent out paper statements anymore. The statement shows your history by year from your first job to your most completed year. All wages are taxed at 6.2% of gross, to a maximum determined every year.
The OP is asking about deductions from a current Social Security benefit, not from past paychecks for Social Security taxes.

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