General Discussion

wishstar

(5,812 posts)

62. The Federal taxes on Social Security do go into Trust Funds

Mon Feb 2, 2026, 08:03 PM

Feb 2

"Under legislation enacted in 1983, the Social Security Trust Funds receive income based on Federal income taxation of benefits. The funds receive taxes on up to 50 percent of benefits from single taxpayers with incomes over $25,000 and from taxpayers filing jointly with incomes over $32,000.

Legislation enacted in 1993 extended taxation of benefits. The legislation increased the limitation on the amount of benefits subject to taxation from 50 percent to 85 percent for single taxpayers with incomes over $34,000 and for taxpayers filing jointly with incomes over $44,000. All additional tax income resulting from the 1993 legislation is deposited in Medicare's Hospital Insurance Trust Fund."

The above is from official SS website linked on my previous post.

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OMG Krasnov Lied About No Tax On Social Security [View all] gab13by13 Feb 2 OP

He lies more than a corpse malaise Feb 2 #1

GOOD one! calimary Feb 2 #15

K & R nt Javaman Feb 2 #2

The MAGA messiah.........lied? SergeStorms Feb 2 #3

It was inaccurately described. Taxpayers over 65 surfered Feb 2 #4

now I remember. It was too late (or too complicate) to change the tax codes MadameButterfly Feb 2 #8

Is that for a couple or an individual? senseandsensibility Feb 2 #10

It is 6,000 for singles, 12,000 for couples state of stupid Feb 2 #16

Yes, the OP already said that Trump lied about this. W_HAMILTON Feb 2 #39

I was about to tell y'all how "inaccurately described" no tax on tips, no tax on overtime, etc. are. Solomon Feb 3 #67

It was always Greg_In_SF Feb 2 #5

For a married couple both over 65 with taxable income of $150,000 or less, surfered Feb 2 #9

Correct except for it's over 65 with adjusted gross income of $150,000 or less. llmart Feb 2 #42

This message was self-deleted by its author MadameButterfly Feb 2 #6

Spouse's SSA 1099 didn't get to us until last week. haele Feb 2 #7

I didn't think about it until this thread Tree Lady Feb 2 #14

The IRS has nothing to do with mailing out tax forms. Wiz Imp Feb 2 #48

I know the IRS doesn't have anything to do Tree Lady Feb 2 #63

I had no problem getting mine. llmart Feb 2 #44

The extra $6000 deduction was nice to have this year MichMan Feb 2 #11

While I agree with you...... AZ8theist Feb 2 #19

Maybe the next congress will campaign on letting it expire MichMan Feb 2 #22

He didn't get an extra 6k, no one did. gab13by13 Feb 2 #23

I got $6000 deducted from my taxable income MichMan Feb 2 #29

I call BS, gab13by13 Feb 2 #21

Yes. that is how deductions work MichMan Feb 2 #25

Correct D_Master81 Feb 2 #26

Just like every other deduction had been forever MichMan Feb 2 #30

Did the additional income put you in a higher tax bracket? AZ8theist Feb 2 #28

I am thrilled that Michigan doesn't tax Social Security any more. llmart Feb 2 #45

Just 1040 isn't enough to get new credit but additional form 1-A is also needed wishstar Feb 2 #12

Thanks for the tip, I wouldn't have known that FakeNoose Feb 2 #20

OK, thank you for that information, gab13by13 Feb 2 #24

I think it's good you brought it up so it could be explained questionseverything Feb 2 #36

If you are taxed on SS there is a double whammy. Not only do you pay tax on SS but it is added to your twodogsbarking Feb 2 #13

Incorrect. Wiz Imp Feb 2 #49

It took some research on the part of the accountants, but this appears to be true, but with several caveats. DFW Feb 2 #58

It is added to your taxable income and will push you into a higher bracket. I wasn't clear. twodogsbarking Feb 3 #65

They don't care iemanja Feb 2 #17

I never got my SSA 1099 tax forms either. nt SunSeeker Feb 2 #18

He lied?! sakabatou Feb 2 #27

I don't believe anyone is required to take the additional $6000 senior deduction MichMan Feb 2 #31

Post # 12 explains things politely, kindly and helpfully questionseverything Feb 2 #35

Why the fuck are you surprised? gopiscrap Feb 2 #32

1040SR Auggie Feb 2 #33

Yeah, it's just bigger letters, gab13by13 Feb 2 #38

Meant for Seniors Auggie Feb 2 #56

I never noticed an SR form before. BidenRocks Feb 2 #46

It was introduced a few years ago Auggie Feb 2 #55

Where's my DOGE check? 617Blue Feb 2 #34

OK, I found the supplemental form, gab13by13 Feb 2 #37

Everyone does not think they are getting back an extra $6000 or $12000 if they have any understanding how taxes work. MichMan Feb 2 #40

I sent mine in the mail because I didn't want to pay gab13by13 Feb 2 #43

I learned how to do taxes when I was 18 and worked at a law firm. llmart Feb 2 #54

Article from Kiplinger* about the change. littlemissmartypants Feb 2 #41

Shocked, Shocked I say, that Mierda47 told a lie. n/t aggiesal Feb 2 #47

Y'all are correct EndlessMaze Feb 2 #50

I received notice of a preliminary 1099 avebury Feb 2 #51

They'd Better Keep Taxing It! OC375 Feb 2 #52

They go into the same pot as all the other income taxes and aren't directed towards SS MichMan Feb 2 #59

The Federal taxes on Social Security do go into Trust Funds wishstar Feb 2 #62

You are correct according to this info on official Soc Sec website: wishstar Feb 2 #61

My head hurts just from reading all this. It's confusing and complicated.... IcyPeas Feb 2 #53

Most other countries have income taxes plus a VAT MichMan Feb 2 #60

I'm still waiting on tax docs for me and my sis MerryBlooms Feb 2 #57

Isn't it just a deduction for up to a certain amount? I'm on SSA, but my pay is too low to be taxed. n/t Jacson6 Feb 2 #64

If his lips are moving . . . Vinca Feb 3 #66

And even when they aren't malaise Feb 3 #68