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Income Tax Planning
Chapter 5: Gross Income from Employment/SOCIAL SECURITY TAXATION: 50%
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 5: Gross Income from Employment

SOCIAL SECURITY TAXATION: 50%

01.Core Concepts

• If MAGI plus one-half of Social Security benefits exceeds the relevant base amount, but not the adjusted base amount, then the amount of benefits included in gross income is the lesser of: • 50% of Social Security benefits, or • 50% x [MAGI + (50% x Social Security benefits) – base amount]