Retirement tax questions

Do you only have SSA-1099 and 1099Int?  How much interest do you have?  Your Social Security probably won't be taxable.  You probably don't need to file the returns.

 

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0


Is your interest more than the Standard Deduction?  You don't need to file if your income is less than the Standard Deduction.

 

2022 STANDARD DEDUCTION AMOUNTS

 SINGLE $12,950  (65 or older + $1750)

 MARRIED FILING SEPARATELY $12,950  (65 or older + $1400)

 MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

 HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

 

 

For 2021 the standard deduction amounts are:

Single 12,550 + 1,700 for 65 and over or blind (14,250)

HOH 18,800 + 1,700 for 65 and over or blind

Joint 25,100 + 1,350 for each 65 and over or blind

Married filing Separate 12,550 + 1,350 for 65 and over or blind