I’m aware of how this is calculated under present tax structure, but after many hours of research I can find nothing about how it will be handled under the new tax reform. Wondering if someone has information on this that I have missed, even though I have searched ever location I can think of (google, IRS site, SS site, aarp site, and many political/financial sites.
Like will none of it be taxed? (As in beginning)
Will some amount be taxed? (As now from SS tax work sheet)
Or will all of it be taxed at new proposed tax percentages? (Which has never been done)
Currently, up to 85% of Social Security retirement is taxable. It's income-dependent, and if SS is your only source of income, it's not taxed at all.
I have seen nothing about how the proposed tax reform affects this. Meaning, probably, that no change was put forward relating to SS