Upon returning from lunch, you find the following message on your voice mail: This is Jarrett…

Upon returning from lunch, you find the following message on
your voice mail:

This is Jarrett Ogilvie. I’m not one of your clients, but I
need some advice. I received a statement in the mail from the Social Security
Administration reporting the $8,500 I received from them last year. It says
that a portion of my Social Security may be taxable. Last year was the first
year I ever received Social Security and I’m confused. I thought Social
Security wasn’t taxable. Could you call me and explain this?

What facts will you need from Jarrett to determine what
portion, if any, of the $8,500 of
»

Upon returning from lunch, you find the following message on
your voice mail:

This is Jarrett Ogilvie. I’m not one of your clients, but I
need some advice. I received a statement in the mail from the Social Security
Administration reporting the $8,500 I received from them last year. It says
that a portion of my Social Security may be taxable. Last year was the first
year I ever received Social Security and I’m confused. I thought Social
Security wasn’t taxable. Could you call me and explain this?

What facts will you need from Jarrett to determine what
portion, if any, of the $8,500 of Social Security benefits is taxable? In your
answer, explain how different facts may lead to different taxable amounts.

»