Author Question: Which of the following statements about taxation of Social Security retirement benefits under ... (Read 86 times)

sammy · **on:** Jul 11, 2018

Which of the following statements about taxation of Social Security retirement benefits under federal law is (are) true?

I. Social Security retirement benefits are never considered taxable income.
II. Up to 85 percent of Social Security retirement benefits may be considered taxable income, depending on the amount of other income received by the beneficiary.
A) I only
B) II only
C) both I and II
D) neither I nor II

Question 2

Which of the following statements about the financing of OASDI and Medicare is (are) true? I. There is a maximum taxable wage base for OASDI. II. There is a maximum taxable wage base for Part A of Medicare.

A) I only
B) II only
C) both I and II
D) neither I nor II