nontaxable

/ nɒnˈtæksəbəl /

adjective

1. not subject to tax

Example Sentences

Financial professionals can also develop tax efficient strategies for providing financial support to family members, including 529 education savings plans for children or grandchildren and direct, nontaxable payments for medical expenses.

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Taxes on Social Security are based on something called “combined income,” which is your adjusted gross income plus any nontaxable interest you earned plus half of your Social Security income.

Read more on Los Angeles Times

“Combined income” is defined as taxpayers’ adjusted gross income, plus their nontaxable interest earnings and half of their Social Security benefits.

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The way you withdraw income — think taxable versus nontaxable accounts — affects everything from the taxes you pay to the price of health care.

Read more on Seattle Times

Up to 85% of Social Security benefits are taxable if “combined income” — adjusted gross income, plus nontaxable interest, plus half of Social Security benefits — exceeds $44,000 for a couple.

Read more on Seattle Times