My income is 1960 a month and told to no longer file. I sold my home at a loss for assisted living costs. Do I need to file this year?

[MichaelDC · Accepted solution]

It depends what kind of income the $1960 is. If it's merely Social Security benefits, you won't need to file. Otherwise, a rule of thumb is to take half of your SS benefits and add them to the rest of your income. If that amount is less than the table below for your filing status, you again won't need to file. The loss on the sale of your home will not affect your taxes or your requirements to file.

For your info, the Gross income requirements for each filing status (If your income is below these, you don't need to file.)

• • Single: $10,300 if under age 65. $11,900 if 65 and older.
  • Married filing jointly: $20,700 if both under 65. ...
  • Married filing separately -- $4,050 at any age.
  • Qualifying widow(er) with a dependent child: $16,650 if under 65. ...
  • Head of household: $13,350 if under 65.