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Level 1
January 28, 2024
Question

On form 1040sr line 12 shows 3100.00$ ....i can be claimed by another person...and only have soc sec as income...what is this amount ???

  • January 28, 2024
  • 2 replies
  • 3 views
what is the amount on form 1040sr line 12 if i can be claimed on another return

2 replies

DoninGA
Level 15
Level 15
January 28, 2024

If your only income in 2023 was from Social Security benefits reported to you on a SSA-1099 there is no need for you to file a tax return.

Level 15
January 28, 2024

The amount on line 12 is your standard deduction.

 

If you can be claimed as a dependent by another taxpayer, your standard deduction for 2023 is limited to the greater of: (1) $1,250, or (2) your earned income plus $400 (but the total can't be more than the basic standard deduction for your filing status).

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