Social Security Income Tax Limit 2024 Over 65. For 2024, that limit increases from $21,240 to $22,320 for beneficiaries who will not reach fra until a future year. This amount is also commonly referred to as the taxable maximum.

It’s $4,873 per month if retiring at 70 and $2,710 for retirement at 62. The irs reminds taxpayers receiving social security benefits that they may have to pay federal income tax on a portion of those benefits.