The chart below reflects the earnings limitations and deduction rules beginning with
1984.
Effective |
|
|
|
|
|
|
for Tax- |
|
Under Age 65 |
Age 65-69 |
|
able Year |
|
Exempt Amount |
Exempt Amount |
Deduction Rate |
Ending |
Taxable |
|
|
|
|
Deduct $1 in |
After– |
Year* |
Annual |
Monthly |
Annual |
Monthly |
benefits for every– |
12/31/83 |
1984 |
$5,160 |
$430 |
|
|
$2 over $5,160 |
|
|
|
|
$6,960 |
$580 |
$2 over $6,960 |
12/31/84 |
1985 |
$5,400 |
$450 |
|
|
$2 over $5,400 |
|
|
|
|
$7,320 |
$610 |
$2 over $7,320 |
12/31/85 |
1986 |
$5,760 |
$480 |
|
|
$2 over $5,760 |
|
|
|
|
$7,800 |
$650 |
$2 over $7,800 |
12/31/86 |
1987 |
$6,000 |
$500 |
|
|
$2 over $6,000 |
|
|
|
|
$8,160 |
$680 |
$2 over $8,160 |
12/31/87 |
1988 |
$6,120 |
$510 |
|
|
$2 over $6,120 |
|
|
|
|
$8,400 |
$700 |
$2 over $8,400 |
12/31/88 |
1989 |
$6,480 |
$540 |
|
|
$2 over $6,480 |
|
|
|
|
$8,880 |
$740 |
$2 over $8,880 |
12/31/89 |
1990 |
$6,840 |
$570 |
|
|
$2 over $6,840 |
|
|
|
|
$9,360 |
$780 |
$3 over $9,360 |
12/31/90 |
1991 |
$7,080 |
$590 |
|
|
$2 over $7,080 |
|
|
|
|
$9,720 |
$810 |
$3 over $9,720 |
12/31/91 |
1992 |
$7,440 |
$620 |
|
|
$2 over $7,440 |
|
|
|
|
$10,200 |
$850 |
$3 over $10,200 |
12/31/92 |
1993 |
$7,680 |
$640 |
|
|
$2 over $7,680 |
|
|
|
|
$10,560 |
$880 |
$3 over $10,560 |
12/31/93 |
1994 |
$8,040 |
$670 |
|
|
$2 over $8,040 |
|
|
|
|
$11,160 |
$930 |
$3 over $11,160 |
WHEREVER THE TAXABLE YEAR DATES OVERLAP, AS IN A FISCAL YEAR, USE THE HIGHER AMOUNT.
*12 month calendar year or fiscal year.
Effective |
|
|
|
|
|
|
for Tax- |
|
Under Age 65 |
Age 65-69 |
|
able Year |
|
Exempt Amount |
Exempt Amount |
Deduction Rate |
Ending |
Taxable |
|
|
|
|
Deduct $1 in |
After– |
Year* |
Annual |
Monthly |
Annual |
Monthly |
benefits for every– |
12/31/94 |
1995 |
$8,160 |
$680 |
|
|
$2 over $8,160 |
|
|
|
|
$11,280 |
$940 |
$3 over $11,280 |
12/31/95 |
1996 |
$8,280 |
$690 |
|
|
$2 over $8,280 |
|
|
|
|
$12,500 |
$1,042 |
$3 over $12,500 |
12/31/96 |
1997 |
$8,640 |
$720 |
|
|
$2 over $8,640 |
|
|
|
|
$13,500 |
$1,125 |
$3 over $13,500 |
12/31/97 |
1998 |
$9,120 |
$760 |
|
|
$2 over $9,120 |
|
|
|
|
$14,500 |
$1,209 |
$3 over $14,500 |
12/31/98 |
1999 |
$9,600 |
$800 |
|
|
$2 over $9,600 |
|
|
|
|
$15,500 |
$1,292 |
$3 over $15,500 |
Effective |
|
|
|
|
|
|
for Tax- |
|
Prior to Year of FRA |
Year of FRA |
|
able Year |
|
Exempt Amount |
Exempt Amount |
Deduction Rate |
Ending |
Taxable |
|
|
|
|
Deduct $1 in |
After– |
Year* |
Annual |
Monthly |
Annual |
Monthly |
benefits for every– |
12/31/99 |
2000 |
$10,080 |
$840 |
|
|
$2 over $10,080 |
|
|
|
|
$17,000 |
$1,417 |
$3 over $17,000 |
12/31/00 |
2001 |
$10,680 |
$890 |
|
|
$2 over $10,680 |
|
|
|
|
$25,000 |
$2,084 |
$3 over $25,000 |
12/31/01 |
2002 |
$11,280 |
$940 |
|
|
$2 over $11,280 |
|
|
|
|
$30,000 |
$2,500 |
$3 over $30,000 |
12/31/02 |
2003 |
$11,520 |
$960 |
|
|
$2 over $11,520 |
|
|
|
$30,720 |
$2,560 |
$3 over $30,720 |
12/31/03 |
2004 |
$11,640 |
$970 |
|
|
$2 over $11,640 |
|
|
|
$31,080 |
$2,590 |
$3 over $31,080 |
12/31/04 |
2005 |
$12,000 |
$1,000 |
|
|
$2 over $12,000 |
|
|
|
$31,800 |
$2,650 |
$3 over $31,800 |
12/31/05 |
2006 |
$12,480 |
$1,040 |
|
|
$2 over $12,480 |
|
|
|
$33,240 |
$2,770 |
$3 over $33,240 |
12/31/06 |
2007 |
$12,960 |
$1,080 |
|
|
$2 over $12,960 |
|
|
|
$34,440 |
$2,870 |
$3 over $34,440 |
12/31/07 |
2008 |
$13,560 |
$1,130 |
|
|
$2 over $13,560 |
|
|
|
|
$36,120 |
$3,010 |
$3 over $36,120 |
12/31/08 |
2009 |
$14,160 |
$1,180 |
|
|
$2 over $14,160 |
|
|
|
|
$37,680 |
$3,140 |
$3 over $37,680 |
12/31/09 |
2010 |
$14,160 |
$1,180 |
|
|
$2 over $14,160 |
|
|
|
$37,680 |
$3,140 |
$3 over $37,680 |
12/31/10 |
2011 |
$14,160 |
$1,180 |
|
|
$2 over $14,160 |
|
|
|
$37,680 |
$3,140 |
$3 over $37,680 |
12/31/11 |
2012 |
$14,640 |
$1,220 |
|
|
$2 over $14,640 |
|
|
|
$38,880 |
$3,240 |
$3 over $38,880 |
12/31/12 |
2013 |
$15,120 |
$1,260 |
|
|
$2 over $15,120 |
|
|
|
$40,080 |
$3,340 |
$3 over $40,080 |
12/31/13 |
2014 |
$15,480 |
$1,290 |
|
|
$2 over $15,480 |
|
|
|
$41,400 |
$3,450 |
$3 over $41,400 |
12/31/14 |
2015 |
$15,720 |
$1,310 |
|
|
$2 over $15,720 |
|
|
|
|
$41,880 |
$3,490 |
$3 over $41,880 |
12/31/15 |
2016 |
$15,720 |
$1,310 |
|
|
$2 over $15,720 |
|
|
|
|
$41,880 |
$3,490 |
$3 over $41,880 |
12/31/16 |
2017 |
$16,920 |
$1,410 |
|
|
$2 over $16,920 |
|
|
|
|
$44,880 |
$3,740 |
$3 over $44,880 |
12/31/17 |
2018 |
$17,040 |
$1,420 |
|
|
$2 over $17,040 |
|
|
|
|
$45,360 |
$3,780 |
$3 over $45,360 |
12/31/18 |
2019 |
$17,640 |
$1,470 |
|
|
$2 over $17,640 |
|
|
|
|
$46,920 |
$3,910 |
$3 over $46,920 |
12/31/19 |
2020 |
$18,240 |
$1,520 |
|
|
$2 over $18,240 |
|
|
|
|
$48,600 |
$4,050 |
$3 over $48,600 |
12/31/20 |
2021 |
$18,960 |
$1,580 |
|
|
$2 over $18,960 |
|
|
|
|
$50,520 |
$4,210 |
$3 over $50,520 |
12/31/21 |
2022 |
$19,560 |
$1,630 |
|
|
$2 over $19,560 |
|
|
|
|
$51,960 |
$4,330 |
$3 over $51,960 |
12/31/22 |
2023 |
$21,240 |
$1,770 |
|
|
$2 over $21,240 |
|
|
|
|
$56,520 |
$4,710 |
$3 over $56,520 |
12/31/23 |
2024 |
$22,320 |
$1,860 |
|
|
$2 over $22,320 |
|
|
|
|
$59,520 |
$4,960 |
$3 over $59,520 |
WHEREVER THE TAXABLE YEAR DATES OVERLAP, AS IN A FISCAL YEAR, USE THE HIGHER AMOUNT.
*12 month calendar year or fiscal year.