For the tax year 2023, a retired couple filing jointly can generally earn up to $27,700 in combined income before owing federal income tax, thanks to the standard deduction for married couples. This includes income from Social Security, pensions, and other sources. However, the taxation of Social Security benefits may affect their total taxable income, so they should consider their specific income sources to determine their tax liability accurately. It's advisable to consult a tax professional for personalized guidance.
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