![ents received by an individual that he or she must include in gross income (cost expected retam) * amount received] 20. The a](http://img.homeworklib.com/questions/10958750-047c-11ea-86e2-a19fff76f7f3.png?x-oss-process=image/resize,w_560)
Homework Answers
Ans: (D) May be zero or as much as 85% of the Social Security benefits received, depending upon the taxpayer's Social Security benefits and other income.
Explanation:
As per IRS,
Social security benefits are included in gross income to compute the combined income for the computation of tax on benefits.
How much benefit will be added its based on individual's combinnd income.
Rate:
| Combine Income | Rate |
| If combine income is less than $25000 (for singles) and $34000 (for married filling jointly) | 0% |
| If it is between $25000 - $34000 | 50% |
| If it is more than $34000 | 85% |
Hence (d) is the only correct option.
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