As with any tax question, your situation may be different and you should consult with a tax advisor or legal counsel before acting.

If you receive social security benefits as cash income, then that money could be taxable. There definitely is a form to figure it out though lets look at some general information from the IRS for 2023.

Social Security benefits may be taxable if received as cash income. The amount of tax you pay is based on the tax brackets and your combined income. For 2023, up to 85% of Social Security income can be taxable, depending on factors such as filing status.

For individuals filing as single, combined income over $34,000 would make it taxable. For joint filers, the threshold is $44,000. If your combined income falls between $25,000 and $34,000 as an individual or between $32,000 and $44,000 as a joint return, up to 50% of your Social Security benefits may be taxable.

Individuals receiving Social Security benefits will receive a SSA-1099 form from the Social Security Administration, which is used to determine the amount owed to the IRS. The form can also be obtained online through the Social Security Administration’s “my Social Security” account.

For more detailed information, please visit the Social Security Administration website: https://www.ssa.gov.

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