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The Ultimate IRS Survival Guide by James Harnsberger download in PDF (.pdf) format. Feel free to share this book with your friends on Facebook! Benefits received from Social Security are disclosed on Form SSA-1099 (or RRB-1099 for railroad retirement). These forms merely report the amount received, and not the taxable amounts, which must be computed based on other income disclosed on the taxpayer’s return. Social Security benefits must be reported on either Form 1040 or 1040A. If none of the benefits are taxable, then none of them should be reported on the return.
Social security benefits include monthly retirement, survivor, and disability benefits. They do not include supplemental security income (SSI) payments, which are not taxable. If part of your benefits are taxable, how much is taxable depends on the total amount of your benefits and other income. Generally, the higher that total amount, the greater the taxable part of your benefits. If your only income received during the year was Social Security, your benefits are generally not taxable. If you have income in addition to your Social Security benefits, 50% or up to 85% of it might be taxable based on your provisional income and two formulas. The provisional income is the sum of adjusted gross income (AGI) as modified (excluding Social Security and including any tax-exempt income and foreign earned income exclusion*) plus 50% of social security income received.
