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H is a single, retired worker with $45,000 annual taxable income. H will begin to receive social security benefits this year that will only amount
H is a single, retired worker with $45,000 annual taxable income. H will begin to receive social security benefits this year that will only amount to $5,000 per year. His social security benefits will
| Come to him tax-free since he paid tax on the amounts when they were included in his gross wages |
| Be partially taxed because of his high income bracket |
| Be denied him and redirected to a congressionally formed social security trust fund |
| Be denied him, but he will get a deduction against his taxable income for the full $5,000 |
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