Does your minor child need to be listed as a dependent on your tax return for you to collect child benefits?
Full question: If you file and start collecting Social Security, and you have a minor child, must they be listed as a deduction on your tax return for you to collect child benefit as well? I ask because I have joint custody of our 11-year-old son, but my ex-wife lists him as a dependent on…Read More
Do I have to pay taxes on Social Security income?
Hi, Yes, your Social Security income may be taxable, but it depends on the amount of your combined income* each year. At the most, only 85% of your Social Security income may be taxed by the IRS. This is how you calculate your combined income*: Your adjusted gross income (AGI) + Nontaxable interest + ½…Read More