Question
Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the nearest dollar. If an amount is
Determine the taxable amount of Social Security benefits for the following situations.
If required, round your answers to the nearest dollar. If an amount is zero, enter "0".
a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $41,200 before considering their Social Security benefits, no tax-exempt interest, and $14,420 of Social Security benefits. As a result, $_____ of the Social Security benefits are taxable.
b. Assume Tyler and Candice have adjusted gross income of $18,800 before considering their Social Security benefits, no tax-exempt interest, and $20,680 of Social Security benefits. As a result, $_____ of the Social Security benefits are taxable.
c. Assume Tyler and Candice have adjusted gross income of $89,500 before considering their Social Security benefits, no tax-exempt interest, and $13,425 of Social Security benefits. As a result, $_____ of the Social Security benefits are taxable.
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