Sec. 104. Increase in threshold amounts and rate for inclusion of social security benefits in income
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Subsection
(a)of section 86 of the Internal Revenue Code of 1986 is amended to read as follows: Gross income for the taxable year of any taxpayer described in subsection
(b)(notwithstanding section 207 of the Social Security Act) includes social security benefits in an amount equal to the lesser of— 85 percent of the social security benefits received during the taxable year, or one-half of the excess described in subsection (b)(1). . Subsection
(c)of section 86 of such Code is amended to read as follows: For purposes of this section, the term base amount means— except as otherwise provided in this paragraph, $50,000, $100,000 in the case of a joint return, and zero in the case of a taxpayer who— is married as of the close of the taxable year (within the meaning of section 7703) but does not file a joint return for such year, and does not live apart from his spouse at all times during the taxable year. . Section 121(e)(1) of the Social Security Amendments of 1986 ( 42 U.S.C. 401 note) is amended by adding at the end the following new subparagraph: The amounts appropriated to the hospital insurance trust fund by subparagraph
(B)shall be determined, and transferred from the general fund, at such times and in such manner so as to replicate, to the extent possible, the appropriations and transfers which would have occurred with respect to such trust fund had subsections
(a)and
(b)of section 104 of the Social Security 2100 Act not been enacted. . The amendments made by this section shall apply to taxable years beginning after December 31, 2014.
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Sec. 104
Increase in threshold amounts and rate for inclusion of social security benefits in income
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