Retirement tax questions

No.

There are two tests to decide if you need to file a tax return.  The first is to be aware of your filing status and then the total amount that you have to earn in order to have to file for that status.  For the 2024 tax year those are-

Single and Under 65 - $14,600

Single and Over 65 - $16,550

Head of Household and Under 65 - $21,900

Head of Household and Over 65 - $23,850

Married Filing Jointly and Both Under 65 - $29,200

Married Filing Jointly and One Under 65 - $30,750

Married Filing Jointly and Both Over 65 - $32,300

Qualifying Surviving Spouse Under 65 - $29,200

Qualifying Surviving Spouse Over 65 - $30,750

(Married Filing Separately has to file if they only make $5)

The total of all your income must add up to those amounts in order for you to have to file a tax return.  

But the second test - the one @xmasbaby0  mentions - is to decide whether you have to include your social security as income when calculating whether you have to file.

If you are single and your total income is below $25,000 when you include half of your social security benefits then you do not need to include your social security benefits in your income when deciding if you are have to file.

$7,948.20 added to $10,170.48 is $18,118.68.  That is less then $25,000.  So you do not have to include your social security as income when deciding whether you have to file.

Then $10,170.48 - which is your total income without your social security - is below the filing threshold for your status which is Single and over 65.  So you do not need to file a tax return.

[Edited 01/29/25  07:50 AM PST]

[Edited 01/28/25  12:53 PM PST]

@28grace 

@28grace 

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