Iowa does not tax Social Security benefits. However, those benefits ARE included in several calculations. To find out how Social Security affects those calculations, you have to calculate your “reportable” Social Security benefits in Iowa.
Railroad Retirement Benefits are a form of retirement income for people employed by railroads in the United States. Let’s look at how these benefits are taxed.
If you received Social Security benefits, they might be taxable. It depends on how much other income you had for the year. The first thing to do when determining of your Social Security benefits are taxable is to add 1/2 of your Social Security benefits to any other income you had. You then compare that […]