I have not had to pay income taxes for the last 3 years due to low income. This will be the first full year on SS retirement. I understand that SS retirement is taxable if you make over $10,000. I will exceed that by about $600 so I will have to pay income tax. No other income.
Do I have to pay taxes on the whle amount or just the $600? Any idea how much I will owe?
Do I have to pay taxes on the whle amount or just the $600? Any idea how much I will owe?