Yes, if you are filing a tax return, you must include ALL taxable income from ALL sources on your return. The tax break seniors specifically get is a higher standard deduction. So, if you are single your standard deduction is $15,350 instead of $13,850.
Also, if you are collecting social security, your benefits are not fully taxable.
If you fall into the following, 85% of your social security is taxable income
- Single with income above $34,000
- Married Filing Jointly with income above $44,000
- Married Filing Separate regardless of income
If you fall into the following, 50% of your social security is taxable income
- Single with combined income between $25,000-$34,000
- Married Filing Jointly with combined income between $32,000 and $44,000
Your combined income is calculated by adding your
- AGI plus
- Nontaxable Interest plus
- 1/2 of your social security Benefits
Social Security Benefits Taxes
If your taxable SS benefits and your other income is less than $15,350, then you would not need to file a return as you would have no taxable income.
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