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compute this using 2019 tax laws Essentials of Federal Income Taxation 12. Social Security Benefits. (Obj. 2) Taxpayers A through Creceived social security (SS) benefits

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compute this using 2019 tax laws

Essentials of Federal Income Taxation 12. Social Security Benefits. (Obj. 2) Taxpayers A through Creceived social security (SS) benefits during the year. Taxpayer Clived with his spouse part of the year. Follow the instructions and fill in the blank lines in the table below for each taxpayer. On line p. show the amour of taxable social security benefits for each taxpayer. MELMES Single $ 7,800 $12,900 $11,000 Social Security benefits received First-Tier Formula a. AGI before ss b. 50% SS benefits c. Tax-exempt interest d. Revised AGI $50,000 3,900 500 $48.000 6,450 400 $ 5.000 5,500 400 e. ( 25.000) Less: Base amount (32,000) 0) ( f. g. h. Excess revised AGI 50% of line f. Tentative taxable SS benefits (lesser of line g. or b.) Second-Tier Formula i. Revised AGI (line d.) (34,000 ( 44,000) ( 0) j. Less: Threshold amount k. Excess 1. Line k. x 85% m. Lesser of line h. or q. n. Line I. + line m. 0. SS benefits x 85% p. Taxable benefits (lesser of line n. or o.) Threshold amount (linej) Less base amount (line e.) Difference q 50% of the difference $ 0 $34,000 ( 25,000) $ 9,000 $ 4,500 $44,000 32,000) $12,000 $ 6,000 $ S 0 0

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