Are social security retirement benefits taxable if taken at age 65 or older? What about pension benefits also?

Public Comments

1. That depends on what other income a person has. There is a Social Security Benefits Worksheet that takes you through the steps to determine if any of your Social Security income is taxable. Your filing status is also a determining factor.
2. Tax on your pension depends on how the pension was funded. Any employer contributions, your own pre-tax contributions, plus earnings, will be taxed. Your Social Security may also be partially taxed if your other income plus half of your SS income is above $25,000 ($32,000 if married filing a joint return). If your income and SS are below these levels, no tax on SS is owed. There are worksheets in Publication 17 to help you figure how much of your Social Security is taxed.