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<blockquote data-quote="witzend" data-source="post: 537699" data-attributes="member: 99"><p>K-</p><p></p><p>You'll pay the same tax on it as you would any income. It's income. They will not reduce it because of other retirement income. (I'm going to leave out the stuff about whether you are a spouse collecting or on disability. For the purposes of this conversation we're just talking about Social Security Retirement Benefits.)</p><p></p><p>Everyone who pays into Social Security gets Social Security when they retire. It is taxed as "regular income". Other income, say an inheritance gets taxed at the inheritance rate; an IRA gets taxed at the special IRA rates for that type of savings account; Social Security Retirement Benefits are "income". They get taxed at the regular income rate and nothing else you have coming in will change that.</p></blockquote><p></p>
[QUOTE="witzend, post: 537699, member: 99"] K- You'll pay the same tax on it as you would any income. It's income. They will not reduce it because of other retirement income. (I'm going to leave out the stuff about whether you are a spouse collecting or on disability. For the purposes of this conversation we're just talking about Social Security Retirement Benefits.) Everyone who pays into Social Security gets Social Security when they retire. It is taxed as "regular income". Other income, say an inheritance gets taxed at the inheritance rate; an IRA gets taxed at the special IRA rates for that type of savings account; Social Security Retirement Benefits are "income". They get taxed at the regular income rate and nothing else you have coming in will change that. [/QUOTE]
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