51Թ

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nontaxable

/ ɒˈæəə /

adjective

  1. not subject to tax

“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Taxes on Social Security are based on something called “combined income,” which is your adjusted gross income plus any nontaxable interest you earned plus half of your Social Security income.

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“Combined income” is defined as taxpayers’ adjusted gross income, plus their nontaxable interest earnings and half of their Social Security benefits.

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The way you withdraw income — think taxable versus nontaxable accounts — affects everything from the taxes you pay to the price of health care.

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Up to 85% of Social Security benefits are taxable if “combined income” — adjusted gross income, plus nontaxable interest, plus half of Social Security benefits — exceeds $44,000 for a couple.

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Among other things, the lawsuit alleges that the couple helped orchestrate a scheme in which their son gave them a nontaxable “gift” of $10 million.

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nontasternonteaching