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Social Security RR Retirement Tier 1 Blue Form

Tax on Social Security benefits . Up to 85% of benefits can be taxable May be taxable if one-half of social security plus all other income (including tax-exempt interest) is greater than:$32,000 MFJ$25,000 single, HOH or qualified widow$25,000 MFS/lived apart all year$0 MFS/lived together any p

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Social Security RR Retirement Tier 1 Blue Form

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    1. Social Security & RR Retirement Tier 1 (Blue Form) Form 1040 Line 20 Pub 4012 Tab 2 Pub 17 Chapter 11 12/29/2011 1 Tax Law Training (NJ) TY2011 v11.0

    2. Tax on Social Security benefits Up to 85% of benefits can be taxable May be taxable if one-half of social security plus all other income (including tax-exempt interest) is greater than: $32,000 MFJ $25,000 single, HOH or qualified widow $25,000 MFS/lived apart all year $0 MFS/lived together any part of year TaxWise calculates taxable amount 12/29/2011 2 Tax Law Training (NJ) TY2011 v11.0

    3. 12/29/2011 3 Tax Law Training (NJ) TY2011 v11.0

    4. SS & RR Tier 1 Tax Wise 1040 Income Worksheet 1 12/29/2011 4 Tax Law Training (NJ) TY2011 v11.0

    5. Tax on RR Retirement Tier 1 Railroad Retirement Tier 1 – Blue Form (Pub 915) RRB-1099 Same Rules as Social Security 12/29/2011 5 Tax Law Training (NJ) TY2011 v11.0

    6. Social Security & Equivalent Railroad Retirement Benefits 12/29/2011 6 Tax Law Training (NJ) TY2011 v11.0

    7. FOREIGN OLD AGE PAYMENTS Old age payments from Canada and Germany By treaty are added to/treated as Social Security (Pub 115) Taxpayer must have converted amount into US dollars (bank statement shows) Not pensions 12/29/2011 7 Tax Law Training (NJ) TY2011 v11.0

    8. Lump Sum Social Security Payments For Prior Years SSA-1099A, Box 3 To be handled only by counselors trained in Lump Sum Social Security Payments 12/29/2011 8 Tax Law Training (NJ) TY2011 v11.0

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