We are both retired. Is the pension, social security, IRA Distribution, and Gambling winnings totally our income enough to complete our 1040SR Return? The completed return results in owing the US Treasury Taxes Due.
Is the above information enough to obtain your comments?
Yes you enter all your income. What is the question? Are you having trouble? If the withholding on your income isn't enough to cover the tax on it you end up with a tax due.
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0
That depends on what else you might have that could be taxable. Do you have stocks or bonds that you sold in 2022. Are you sure you've got a 1099-R for all of both of your retirements. Did you do any odd jobs that you got paid for?
If you are sure you've got all of your documentation. Yes, you file your 1040SR.