Three Income Sources You May Be Shocked to Discover Could Be Taxable

Retirees could owe federal tax on up to 50% of benefits once their countable income hits $25,000 as a single filer or $32,000 as a married joint filer. Once countable income reaches $34,000 for single filers or $44,000 for married joint filers, up to 85% of benefits will become subject to federal tax. Countable income is defined to include half of all Social Security income along with all other taxable income and some nontaxable income.