• Living in Retirement
  • Social Security
  • Living in Retirement
  • Social Security
  • Living in Retirement
  • Social Security
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ANSWER: False.

Social Security benefits can be taxable, depending on your income level. No one pays federal income tax on more than 85% of his or her benefits.

If you filed an individual tax return and had combined income (consisting of your adjusted gross income + non-taxable interest + ½ of your Social Security benefits) of more than $34,000, up to 85% of your benefits may be taxable. For those filing joint returns, if your combined income is more than $44,000, up to 85% of benefits may be taxable.

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