Ask Question
10 November, 20:14

Carl and Karina file a joint return. Karina earned a salary of $38,000 and received dividends of $3,000, taxable interest income of $2,000, and nontaxable interest of $1,000. Carl received $9,000 of social security benefits and a gift of $6,000 from his brother. What amount of social security benefits is taxable to Carl and Karina?

+3
Answers (1)
  1. 10 November, 21:49
    0
    The amount of social security benefits is taxable to Carl and Karina is $7650.

    Explanation:

    For joint filing return combined income of $32,000 to $44,000 you will pay 50% of your social security income and if you have combined income more than $44,000 you can expect to pay taxes up to 85% of your social security amount.

    Social security amount that is taxable = $9,000*85/100

    = $7650

    Therefore, The amount of social security benefits is taxable to Carl and Karina is $7650.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Carl and Karina file a joint return. Karina earned a salary of $38,000 and received dividends of $3,000, taxable interest income of $2,000, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers