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Asked 1/28/2010
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Taxable social security I am 72 yrs of age and I work part time and receive taxable retirement income. It is my understanding that there is not limit on my earnings before I my social secuirty is taxed.
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Answer 1/1 - Submitted 1/5/2011
Some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits.
No one pays federal income tax on more than 85 percent of his or her Social Security benefits based on Internal Revenue Service (IRS) rules.
http://www.ssa.gov/planners/taxes.htm
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