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Don’t overlook state taxes in addition to federal on Social Security income

Federal income taxes are due on Social Security benefits, which comes as a shock to many people. Katie Brockman explains that taxes kick in at $25,001 in provisional income for singles and $32,001 for couples. But these 12 states also tax benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, Vermont, West Virginia. There are, however, varying exemptions based on income or age in most states, and Brockman covers that in the full article here.

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