What is the tax status on a single individual earning only social security income?

The tax status of a single individual earning only Social Security income is generally not taxable because Social Security benefits are designed to provide financial assistance and are not typically subject to federal income tax if they are the sole source of income.

However, if a single individual's only income is Social Security and it is below certain thresholds, then it is not taxed at all. For 2023, for instance, if the individual’s countable income is below $25,000, their Social Security benefits will not be taxed.

Other options suggest scenarios where Social Security could be fully taxable or depend on additional factors, but those cases typically arise only when an individual has other sources of income that are considered in the overall income calculations. In most cases where Social Security is the only income, individuals will not owe federal income tax, making it essential to understand the nuances of income types and thresholds related to taxation.