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Kevin, a 69-year-old single taxpayer, received $20,000 in social security benefits in 2015. He also earned $12,000 in wages and $6,000 in interest income, $4,000
Kevin, a 69-year-old single taxpayer, received $20,000 in social security benefits in 2015. He also earned $12,000 in wages and $6,000 in interest income, $4,000 of which was tax-exempt. What percentage of Kevin's benefits will most likely be considered taxable income?
A) None
B) Up to 50%
C) Up to 85%
D) Up to 100%
Note: Option B) Up to 50% is incorrect answer in my test
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