Do I have to report that my wife and I both retired during 2017? Does it have an impact on my return?

Forum|Forum|7 years ago
June 3, 2019
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No, there is no form to claim change of circumstances. However, the absence of a W-2 and the presence of forms for Social Security and 1099-R for retirement income pretty much tell the story.

Only dollar amounts of income have an impact. Your Social Security may or may not be taxable, depending on the rest of your income.

Regarding SSDI taxable income concerns, none of your Social Security disability income (SSDI) is taxable if half of your SSDI plus all your other income is less than:

$25,000 if you filed as single, head of household, or married filing separately, and you and your spouse lived apart all year
$32,000 if you’re married filing jointly
$0 if you’re married filing separately, and you and your spouse lived together at all during the year

Anonymous

Answer

No, there is no form to claim change of circumstances. However, the absence of a W-2 and the presence of forms for Social Security and 1099-R for retirement income pretty much tell the story.

Only dollar amounts of income have an impact. Your Social Security may or may not be taxable, depending on the rest of your income.

Regarding SSDI taxable income concerns, none of your Social Security disability income (SSDI) is taxable if half of your SSDI plus all your other income is less than:

$25,000 if you filed as single, head of household, or married filing separately, and you and your spouse lived apart all year
$32,000 if you’re married filing jointly
$0 if you’re married filing separately, and you and your spouse lived together at all during the year