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lizluna84
New Member

Do i have to file a tax return if I'm 71 and made less than 10000 plus receive social security?

 
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3 Replies

Do i have to file a tax return if I'm 71 and made less than 10000 plus receive social security?

when you say 'made' about $10,000, how did you make it?

 

if that was from working of any sort, you are eligible for EITC (special rule for 2021 only) and therefore filing would be to your benefit.  

 

if the $10,000 was pension, dividends, interest, capital gains, then that is different.  Under that scenario, assuming there were was federal tax withholdings, and you received your stimulus, then there would be no reason to file.  

 

Your state requirements may be different. 

Do i have to file a tax return if I'm 71 and made less than 10000 plus receive social security?

Who has to file?

http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Hal_Al
Level 15

Do i have to file a tax return if I'm 71 and made less than 10000 plus receive social security?

Q.  Do i have to file a tax return if I'm 71 and made less than 10000 plus receive social security?

A. Simple answer: No.  But it depends on the details. 

 

Social security only becomes taxable when added to sufficient other income. 

Social security (including SSDI) becomes taxable when your income, including 1/2 your social security, reaches:

Married Filing Jointly(MFJ): $32,000

Single or head of household: $25,000

Married Filing Separately and lived with your spouse at any time during the tax year: $0

 

How much  is "sufficient other income"? The simple answer is $12,550 (a single person's filing requirement). But the answer varies dependent on marital status, filing status, age, the amount of your Social security, source of your other income and whether you are claimed as a dependent by someone else.

 

If your $10,000 other income is from self employment, you are required to file an income tax return, to pay the self employment (social security and medicare) tax on that income even though not income is likely due. 

 

 

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