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Filing Taxes Question

I did get form 1099G with my scratch off lotto ticket of 1000 winnings and I guess my social security disability income for the year is less than 10k. Now I know I don't have to declare my social security disability because I don't exceed 25 k. Now the only thing I will need to report is the scratch off 1000 lotto winnings. So I guess when i file my taxes should I do both or just report that scratch off 1000 lotto ticket. Will someone file my taxes if that 1000 scratch off is less than the standard deduction. Would they? OR is it too little of an income to report based on the fact that I don't even get close to the standard reporting of having to report at lest12,000 dollars. So I don't get it should I file or not for both or just the ticket???

One more question is there an inheritance tax in florida?

Last question if a friends father dies from abroad another country does he declares taxes if brings his inheritance to the USA? How about if he sells his home from abroad (another country) and he brings that money to the USA does he declares taxes on it?

Last question how do people report taxes if they have a rental property?

 

 

 

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3 Replies
Hal_Al
Level 15

Filing Taxes Question

You have questions on 3 totally different  topics.  You should post 3 separate questions, to get more expert eyes on each topic.

 

As for the 1099-G, the simple answer is: you do not need to file a tax return.  Your total income ($10,000 SSA-1099 + $1000 1099-G) is less than the $12,950 filing requirement ("it's too little of an income to report based on the fact that I don't even get close to the standard reporting of having to report at lest12,000 dollars").

 

You said "Now I know I don't have to declare my social security disability because I don't exceed 25 k".  That's effectively correct, but not technically accurate.  

Social security  becomes taxable when added to sufficient other income. If you are otherwise required to file a tax return, you do need to enter it in TurboTax (TT). TT will determine the taxable portion.

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

After TurboTax (TT) calculates the taxable portion of SS, it puts the total amount of SS on line 6a of form 1040 and the taxable amount on line 6b (2020-2). TT also produces a worksheet  to show how the taxable amount is calculated. Although most people pay tax on 85% of their SS. it can be less for lower income taxpayers.

Filing Taxes Question

This user has posted a bunch of questions and gotten the same answers several times.

 

Because you got a 1099-G, the IRS will try to match it to your tax return.  If the IRS computers see that you have no other income, the computer should probably not send you a letter asking about the 1099-G.  But if you do get a letter, you will need to respond. 

Filing Taxes Question

 

One more question is there an inheritance tax in florida?   NO

 

Last question if a friends father dies from abroad another country does he declares taxes if brings his inheritance to the USA?   Depends on what he inherits ... if it is just cash or property then NO.  If it is income producing properties, annuities, investments and the like then YES. 

 

How about if he sells his home from abroad (another country) and he brings that money to the USA does he declares taxes on it?   The sale is taxable income no matter what you do with the proceeds. 

 

Last question how do people report taxes if they have a rental property?  The rental income/expenses are filed on a Sch E  as part of the form 1040.  

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